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Fastjet

Old 26th Sep 2011, 21:29
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Are you sure?? Ok he started up easyjet with his dads billions....everything else the entrepenuer has touch has come to nought!! easycinema/rentacar/cruises/internetcafe...anyone!
Disagree and I'm not Stelios's biggest fan but he is a serial entrepreneur.

Having known a few they start many thing and fail in many things and then get back up and start again and again and again.

A 1 in 20 success rate was what someone stated as being good and thats not even being able to trade the 20 but getting the plans and proposals together.
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Old 26th Sep 2011, 21:38
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OK, so where's the precedent here?

Serial starter of airlines - nothing new. If you've sold out your surname, just use your first name.

Compete against former company - happens all the time. But compete against an airline you still have a substantial stake in? That is self-destructive, it isn't like holding lots of brands in a conglomerate portfolio (Unilver etc), the airline biz is much to restrictive for that.

The low cost long-haul model has been tried, but they all ran out of cash. Is there any mileage in a premium short haul service, I don't see it myself.
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Old 26th Sep 2011, 23:38
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Everyone speculating on here is doing away with the LHR slots if it is indeed BMI he is eyeing up. Extremely wildcard suggestion, but perhaps what he's got in mind is starting a LCC centred on LHR. That is somewhere that EZY, FR, LS etc can't directly get him, no matter how big/dominant they are in the wider UK/European market.

Presumably Baby would be part of the package, ignoring potential need to re-equip all of a sudden he has a significant fleet on his hands with strong coverage in the wealthiest part of the south and across the Midlands.
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Old 27th Sep 2011, 03:49
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I suggest BA would launch an attack via Vueling if he tried a LHR loco.... LHR loco isn't an easy accomplishment.
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Old 27th Sep 2011, 04:38
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Thanks for the comments folks, I live and learn.

I do have to wonder, like many others, what his motive is for seemingly trying to destroy value in the company that represents such a large slice of his family's wealth. Surely one of the other family members would have a word with him?

Still think he is going to be bogged down in legal stuff for ages. EasyJet are bound to fight this as far as they possibly can - they have to in fairness - which is going to slow up his plans... The lawyers will be in clover, if you want to see one share price move, keep an eye on Aston Martin's

If he is serious about starting something quickly, it's going to have to be overseas and small aircraft.... If wants to take over baby, or anything else, or start something that really would give easyJet palpitations, he should dig in for a loooooong wait in court.
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Old 27th Sep 2011, 10:26
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Tango100..

SirStel is not obliged to register Fastjet at Companies House... and there are numerous good reasons why he may have chosen not to.

Firstly, he may choose to register the company in a state other than the UK but, more likely, he may already have a company registered as the proposed airline's proprietor..eg ScareBus2011 Limited .. Thus the operation becomes ScareBus2011 trading as Fastjet...

Just my two penn'uth... fascinating all the same... I bet he plays a mean game of poker! Cheers..TP
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Old 27th Sep 2011, 13:49
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e-jet.com This looks rather familiar, I really do wander whats going on!
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Old 27th Sep 2011, 14:03
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Maybe he is going to try to shake up the bizjet market? It would fit with the name. Maybe he will try (where many have tried and failed) to take advantage of the many empty legs flown by bizjets. Somebody with his ability to generate massive publicity might be able to crack the problem.
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Old 27th Sep 2011, 14:09
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Is it correct that it was EZY who released this news and not Stelios, could they have called his bluff after he threatened them with this new start in writing? The holding page is rubbish and Stelios seems somewhat behind the drag curve on this 'new airline'! Who knows, maybe he has been planning this for months but it sure doesn't look like it at the moment. I honestly think he has shot himself in the foot, the EZY brand may well be gone in the next 12 mths with EZY re-branding back to GO or something new.

Its a mess and the next year is going to be interesting!!
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Old 27th Sep 2011, 14:16
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bmibaby/fastjet

It was stated that the letter between him and easyjet said he couldnt set up another airline before the end of 2012.

by the time of the sale of bmibaby goes through the courts and a rename to fastjet we could be looking at 1st nov 2012 start anyway??

if he did get bmibaby he would be at EMA, BHX and CDF all 3 where easyjet arent are so not indirect competition then?
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Old 27th Sep 2011, 15:27
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WebCHeck - Select and Access Company Information

Interestingly looks like the company name has now been registered, although at an address that looks like it has / would not have anything to do with Stelios himself. Also the home of a company 'Children Uganda'... wouldn't be giving my credit card details over to that company in a hurry!

Looks like someone is trying to make a quick buck, and why not, that was the idea that I had.
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Old 27th Sep 2011, 15:29
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I do have to wonder, like many others, what his motive is for seemingly trying to destroy value in the company that represents such a large slice of his family's wealth. Surely one of the other family members would have a word with him?
. . . unless he's prepared to accept a diminution of the value of his 38% in order to buy back the balance at a much lower value - i.e. take the airline private again as SRB did with Virgin? After the float he never seemed to accept that he did not own the whole show and let management run it as they thought fit. He has continually interfered in management creating a hugely unsettling atmosphere in the board room and on the flight decks. If he wants to get back into the driving seat he should buy it back. It's not as if his criticisms are shared by the other (non-family) investors - they must be seriously p****d off at his antics.
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Old 27th Sep 2011, 15:31
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How long have Baby had a base in Cortina D Ampezzo?
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Old 27th Sep 2011, 16:02
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Assuming that CWL was meant not CDF, he'll have to hurry if he wants baby with a base there...

A lot of coverage today that is very negative to SHI. He is starting to look very petulant, and I rather think that if easyJet come to the conclusion that they are better off being free of him entirely, which they may have done already, then he is hardly going to be treated as hot property by anyone else...

And I still don't think it is baby he is after. Far more likely to start with a clean sheet, likely to be cheaper in the long run, and no history and issues to clean up.
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Old 27th Sep 2011, 19:13
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This is a very amateurish way to start any business: announced by your competitor, website with nothing on it (owned by someone else since 2005), identical website under a different name (e-jet), no evident infrastructure, personnel, finances, or company. This is the sort of thing you could set up from your bedroom, with all the good intentions of a dreamer but none of the reality of a pragmatist.

I will eat my cap (if my airline issued them) if this is for real.
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Old 27th Sep 2011, 22:26
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How was e-jet.com discovered?
Is this not a trademark of Embraer?

However, this domain is registered by Easygroup Ltd, to a Monaco address.

So he's proposing two new airlines, both with the same five minutes in Photoshop font?

I used to respect the man!

If he wants to get back into the driving seat he should buy it back.
He has been quoted along the lines of 'I like to start businesses, not run them'. That is natural. Two new airlines in tough times is not.
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Old 27th Sep 2011, 23:29
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As of the end of the summer season assuming it is bmibaby he will have BHD, EMA and BHX.

Both the MAN & CWL bases are to close.
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Old 28th Sep 2011, 14:49
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Fastjet - looks like the colours of another European low-cost that is reportedly bleeding 's to me...
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Old 2nd Oct 2011, 19:31
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Plans by the founder of easyJet to launch a new airline will reportedly see it go head-to-head with British Airways and Virgin Atlantic on routes to North America.
Sir Stelios Haji-Iaonnou's Fastjet service is unlikely to directly compete with easyJet, which operates flights mainly in Europe, according to the Sunday Telegraph.
It was revealed last week that Sir Stelios wrote to easyJet, in which he and his family hold a 37% stake, saying he intends to form a new airline as his spat with the carrier's management worsened.
At the time it was thought that the venture might compete with easyJet, but the newspaper has learned the service is more likely to try to shake up the transatlantic market.
The newspaper also believes that Fastjet is only one of a number of names the billionaire is considering registering. He may also register "Stelios" as a brand, the newspaper said.
Sir Stelios is also thought to be working in partnership with other entrepreneurs who are already attempting to build an airline.
In a statement last week, easyJet said Sir Stelios alleges the carrier has breached the terms of a "comfort letter" dated October last year - making it null and void. EasyJet said it "emphatically" rejected the claims.
The comfort letter included a "mutual respect" clause that prevented Sir Stelios from speaking negatively of the airline, while also preventing him from either setting up a rival airline or becoming a significant holder in another carrier.
A spokesman for Sir Stelios has said the airline founder believes easyJet directors breached a clause in the comfort letter which stated they would remain committed to enhancing the easyJet brand's reputation.
EasyJet has vowed to fight Sir Stelios if Fastjet infringes the rights of the airline and its shareholders, although it "continues to seek constructive dialogue" with the Greek-Cypriot tycoon and easyGroup, the company he owns which controls the "easy" brand.
Copyright 2011 The Press Association. All rights reserved.







Last edited by rapidman47; 2nd Oct 2011 at 19:55.
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Old 2nd Oct 2011, 20:02
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Head to head with BA and Virgin on the Atlantic. So that will presumably be Heathrow then. Isn't there some Heathrow based airline with prior transatlantic experience and three times as many slots as Virgin up for sale?


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