Fastjet
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Fastjet / flybe
Here is an update from the city:
It was blue skies all the way for Flybe as rumours from a City hangar suggested that Sir Stelios Haji-Ioannou has the Exeter International Airport-based low cost regional airline on his radar.
Amid the turbulence elsewhere, the shares took off and touched 117p before closing 7p higher at 113p amid vague speculation the easyJet founder, who this week announced plans to set up a new discount airline called Fastjet, could possibly also buy Flybe currently valued at around £85m.
Broker Liberum Capital does not believe that Fastjet will pose a competitive threat to easyJet (9.5p cheaper at 344.25p) but if the aggressive Sir Stelios was to acquire Flybe and ‘bolt on’ a new business, Fastjet, that would certainly put the cat amongst the pigeons.
Sir Stelios’s move to set up Fastjet came a week after easyJet announced its first ever dividend to shareholders – worth £190m – with a mouthwatering £72m going to Sir Stelios who still owns 38 per cent of the equity.
He could easily part-finance a bid for Flybe which is trading 62 per cent below its December 2010 flotation price of 295p. But he would have a huge job persuading Flybe’s major shareholders to sell. A trust of the late Jack Walker, Blackburn Rovers’ former owner, holds a 48 per cent stake via Rosedale Aviation Holdings, while International Consolidated Airlines, the Anglo-Spanish holding company formed following the merger of BA and Iberia, owns 14.6 per cent.
It was blue skies all the way for Flybe as rumours from a City hangar suggested that Sir Stelios Haji-Ioannou has the Exeter International Airport-based low cost regional airline on his radar.
Amid the turbulence elsewhere, the shares took off and touched 117p before closing 7p higher at 113p amid vague speculation the easyJet founder, who this week announced plans to set up a new discount airline called Fastjet, could possibly also buy Flybe currently valued at around £85m.
Broker Liberum Capital does not believe that Fastjet will pose a competitive threat to easyJet (9.5p cheaper at 344.25p) but if the aggressive Sir Stelios was to acquire Flybe and ‘bolt on’ a new business, Fastjet, that would certainly put the cat amongst the pigeons.
Sir Stelios’s move to set up Fastjet came a week after easyJet announced its first ever dividend to shareholders – worth £190m – with a mouthwatering £72m going to Sir Stelios who still owns 38 per cent of the equity.
He could easily part-finance a bid for Flybe which is trading 62 per cent below its December 2010 flotation price of 295p. But he would have a huge job persuading Flybe’s major shareholders to sell. A trust of the late Jack Walker, Blackburn Rovers’ former owner, holds a 48 per cent stake via Rosedale Aviation Holdings, while International Consolidated Airlines, the Anglo-Spanish holding company formed following the merger of BA and Iberia, owns 14.6 per cent.
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Seems that Fastjet is not a thread to any short haul airline...
It was annnounced on TV news Sunday 2nd October that Fastjet was going head to head with British Airways and Virgin Atlantic,
SOURCE: Stelios's Fastjet to take on long-haul market - Telegraph
Now I am no expert at all on these matters - But if Laker could not survive with the big boys - What makes Stelios think he can.
This puts Fastjet into perspective - But like I say I am no expert, so what is this: e-jet.com and who is it competing with?.
It was annnounced on TV news Sunday 2nd October that Fastjet was going head to head with British Airways and Virgin Atlantic,
Stelios's Fastjet to take on long-haul market
Sir Stelios Haji-Iaonnou is working on plans to launch a transatlantic airline which would pit him head to head with British Airways and Virgin Atlantic.
Sir Stelios Haji-Iaonnou is working on plans to launch a transatlantic airline which would pit him head to head with British Airways and Virgin Atlantic.
Now I am no expert at all on these matters - But if Laker could not survive with the big boys - What makes Stelios think he can.
This puts Fastjet into perspective - But like I say I am no expert, so what is this: e-jet.com and who is it competing with?.
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e-jet.com gives us a lot of ideas about what Stelios' intentions are - all you need are 3 extra letters there and you get easyjet.com . Whilst he might say long-haul (this isn't completely confirmed), it is fairly obvious what he is trying to do and that is sabrerattle his way through the easyJet board so he gets his way in the end. £72m not good enough for him? Apparently not...
if fast jet were to do long haul flights,what are the chances ryanair would do the same.cant see MOL leaving it all to stellios
Join Date: Sep 2006
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This is nearly getting to be an airline a day for Stelios.
1. Buying BMI
2. Fastjet
3. E-Jet
4. Flybe
We also have Loco, Trans Atlantic Business jets.
So what next Aer Lingus? maybe Olympic or any other struggling Airline.
Ok lets start Stelios Fantasy Airlines could be good for The Sun or the Daily Mirror
1. Buying BMI
2. Fastjet
3. E-Jet
4. Flybe
We also have Loco, Trans Atlantic Business jets.
So what next Aer Lingus? maybe Olympic or any other struggling Airline.
Ok lets start Stelios Fantasy Airlines could be good for The Sun or the Daily Mirror
Ramasseur des pommes
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Is there really room for another carrier on the overcrowded North Atlantic, particularly ex-LHR?
It has gone very quiet on the "fastjet" front of late, just like the announcement "soon" that VS will be joining an alliance!
It has gone very quiet on the "fastjet" front of late, just like the announcement "soon" that VS will be joining an alliance!
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xtype,
If Stelios carries on the way he's going, this time next year he will be just a millionnaire (as Laker said)!
Then he might take a serious look at setting up a much needed intercity bus service in his beloved Switzerland - SBB marketing need a good kick up the backside, but I guess that's for ptdrne!
If Stelios carries on the way he's going, this time next year he will be just a millionnaire (as Laker said)!
Then he might take a serious look at setting up a much needed intercity bus service in his beloved Switzerland - SBB marketing need a good kick up the backside, but I guess that's for ptdrne!
Paxing All Over The World
vctenderness
Indeed - that's their job. Some years ago (mebbe five) in one of the BA/VS spats, I recall an interviewer asking Branson why he was always complaining and he said (as I recall) "That's my job. If I was the CEO of BA, then I would be saying exactly what Willie Walsh is saying - because that's HIS job"
nigel osborne
I don't think they are late? VS have been trying to by BD for 15 years. It's just that Bishop would not even talk to Branson and insisted on delaying the sale until he could get DLH to take it. In my view, if VS had been able to buy BD years ago, the staff at BD would be looking at a much more certain future than they are now.
Ernest Lanc's
Indeed. Also, at the time that Laker was hacking away at the big boys, there was tons of money and untapped demand. Now there is no money and (at best) stagnant demand.
This is all huffing and puffing.
In every sphere that the Virgin brand operate they moan and complain at every turn of the coin.
nigel osborne
I have to curse Virgin, not interested initially then limply coming to the table at the last second
Ernest Lanc's
Now I am no expert at all on these matters - But if Laker could not survive with the big boys - What makes Stelios think he can?
This is all huffing and puffing.
