Stelios setting up Fastjet.com – easyJet rival
27.09.11
easyJet founder and major shareholder Sir Stelios Haji-Ioannou is setting up a new airline called Fastjet. No details of the project have been released. The website www.Fastjet.com currently has one holding page (in red) saying simply 'Fastjet.com - by Stelios. Coming soon.'
Sir Stelios has been in a long running dispute with easyJet, in which he and his family own 38% of the shares, over its strategy, aircraft orders, speed of expansion and returns to shareholders.
easyJet said it had a number of rights under its agreement with Sir Stelios and his easyGroup company.
It added that if any Fastjet activity infringed these rights, it would ‘take necessary action’. easyGroup disputes it has these rights and says the airline's board has waged a private campaign against him.
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