News

Easyjet founder to launch Fastjet

26 Sep 2011 by BusinessTraveller

Sir Stelios Haji-Ioannou, the founder of low-cost carrier Easyjet, has reportedly announced plans to form rival airline Fastjet.

No details have yet been released about the carrier’s planned network, although a website has been set up at fastjet.com, with the wording “Fastjet.com. By Stelios. Coming soon!”

According to reports by The Financial Times and The Telegraph, Easyjet says it has received notification from Stelios of his plans for the new airline, and said that it would “take necessary action to protect the rights of easyJet and the interests of its shareholders”.

Stelios founded Easyjet in 1995, and remains the carrier’s largest shareholder, although relations between the entrepreneur and the Easyjet board have been strained of late, with disagreements over expansion plans and the purchase of new planes from Airbus.

Easyjet announced last month that it would be paying £190 million in dividends to its shareholders.

For more information visit easyjet.com, fastjet.com.

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