The R's players were jeered off the pitch following Sunday's 1-1 home draw against fellow strugglers Reading to claim only their fourth league point of the campaign. But Fernandez still believes Hughes is the right man to take the club forward, telling Sky Sports News the Welshman has his full backing.
"I have complete faith in Mark Hughes and we have a great squad, we just need to hold out for that stability and I'm sure things are going to go right," he said. "It's been one of those frustrating seasons for us but I'm keeping the faith and keeping calm. It's not a time to panic."
Fernandes, who sacked former QPR boss Neil Warnock in January after a poor start to last season, has backed Hughes repeatedly in recent weeks.
The Malaysian businessman usually takes to Twitter to declare his support for the ex-Fulham manager and said to sack Hughes now would be "suicidal".
"I'm not sure what language I have to say it in, I don't how else I can do it but I am 100 per cent committed," he said.
"We won't be detracted by fans or media, we're confident in our approach and changing our manager now would be suicidal. Mark's a good guy, he's got good records before him, he needs a bit of luck but cream always rises to the top. He has our backing."
Fernandes does not want to replace his manager and watch Hughes' work to-date go to waste.
"We made a change with Neil and it's not in my nature to do that but we felt that we had to make that change going forward," he said.
"I think the fans who are true fans know that stability is needed. QPR doesn't need another four-year plan of chopping and changing every few weeks. Mark has done it before, he's brought teams up from the bottom to the mid-table, we just need a bit of luck and I'm sure things will turn around."
Source: PA
Source: PA