New Stelios airline ‘to take on long haul market’
02.10.11
Sir Stelios Haji-Iaonnou is working on plans to launch a transatlantic airline that would pit him head to head with British Airways and Virgin Atlantic, the Sunday Telegraph reports. The newspaper reveals that Fastjet, the new airline planned by the Greek-Cypriot businessman, is unlikely to compete head to head in Europe with easyJet, the low-cost airline in which Sir Stelios and his family hold a 37.4% stake.
It reports the Fastjet name is only one of a number of names the billionaire is considering registering. He may also register 'Stelios' as a brand. Sir Stelios is also said to be working in partnership with other entrepreneurs who are already attempting to build an airline.
In an interview with the Sunday Telegraph in which he refused to comment on his plans for Fastjet, he said of his growing spat with the easyJet board: ‘On the one hand, they are briefing the press that my strategy on easyJet is wrong. On the other hand, they are wasting shareholders' money on expensive lawyers trying to keep me out of the industry.’
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