The former Manchester City boss still has the support of the Malaysian tycoon, who has declared him the "right man" for the job and rubbished calls for change at Loftus Road
Despite investing in new players over the summer, the west London club have only picked up two points from their opening seven games and endured another defeat against West Brom on Saturday.
That result has left them bottom of the table but Fernandes insists that the team's performances in the opening weeks of the season have merited more.
"For all QPR fans," Fernandes posted on Twitter. "Fans who analyse properly. I am not changing anything. And all shareholders agree.
"No team except the first game [a 5-0 home defeat to Swansea City] has outplayed us. We need a consistent four defenders not changing every week especially right and left-back. Mark is the right man.
"For all those calling for change, this is the team that outplayed Spurs and gave Chelsea a damm good game and you want change. No way."
The former Manchester City, Blackburn Rovers and Fulham manager offloaded 17 players during pre-season and brought in 12 new faces.
"I'm still learning about the group, still learning about the players I have," Hughes said after the match at the Hawthorns.
"We had a big turnover in the summer and we all knew it was going to take time. Tony is a very supportive chairman and I've got great support from the shareholders."