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Fastjet

Old 26th Sep 2011, 15:19
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Fastjet

No details yet but isn't the marketplace rather too crowded? Another bluff by Stelios?

Fastjet.com

Budget airline easyJet has been told that founder Sir Stelios Haji-Ioannou is setting up a new airline which will be branded 'Fastjet'.

easyJet says it has a number of rights under its agreements with Sir Stelios and easyGroup IP Licensing Ltd, a subsidiary of easyGroup Holdings Limited.

And it says it will take necessary action to protect those rights if they are infringed by Fastjet, Sir Stelios or any company controlled by him.

easyJet says Sir Stelios alleges that easyJet has breached the terms of the binding comfort letter between him and easyJet of 10 October 2010 and that that letter is no longer in force.

easyJet emphatically rejects these claims. easyJet says it continues to seek constructive dialogue with easyGroup and Sir Stelios.
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Old 26th Sep 2011, 15:52
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Stelios has been complaining that Easyjet has been expanding too much so now we are to believe he is going to add even more aircraft into an overcrowded market.

I'll believe it when I see it.
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Old 26th Sep 2011, 15:54
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Fast Jet

New start up by Stellios

Stelios Launches Rival To EasyJet Called Fastjet | Business | Sky News
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Old 26th Sep 2011, 16:00
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Will be really interesting to see what plan he has for this airline... Will he go head to head with Easy or find new airports/routes/aircraft? Suppose we will have to sit, wait and find out.

Agree with millerscourt though. Isn't it overcrowded enough?
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Old 26th Sep 2011, 16:04
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This is good news for the market and Stellios does have the track record to do well. Any ideas on Aircraft and Bases, I guess it'll be a UK operation.?
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Old 26th Sep 2011, 16:09
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Fastjet - Stelios' new airline

Fastjet: Stelios Launches Rival To EasyJet - Yahoo!

Rather interesting. Publicity stunt or geniune new loco airline??
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Old 26th Sep 2011, 16:11
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he is buying BMI !
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Old 26th Sep 2011, 16:14
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Will he retain his controlling interest in easyJet? Is this his revenge for perceived slights by the easyJet board over the years? Nice work: fight for dividends, eventually get them and then then plough them into a competitor product (assuming it is a competitor product of course).
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Old 26th Sep 2011, 16:14
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Heathrow, A320 and A330?
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Old 26th Sep 2011, 16:15
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Is this not the Stelios project name for his (rather than easyJet's) acquisition of bmibaby, hence why he's so tight-lipped about it?
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Old 26th Sep 2011, 16:19
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Torquelink......Stelios does NOT have a controlling interest in Easyjet.
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Old 26th Sep 2011, 16:19
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Already a thread on this subject in A,A &R
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Old 26th Sep 2011, 16:25
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would be very interesting if he bought over bmibaby, he would be going back to where he started with the old -300 series boeings.
and would be very interesting to see him take on easyJet at belfast on a lot of the same routes
BFS - easyJet V BHD - fastjet
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Old 26th Sep 2011, 16:37
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Rhino - not in strictly numerical terms but, in practice, his block of shares allows him to call the shots.
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Old 26th Sep 2011, 16:46
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This could turn out to be the best thing ever for easyJet. To avoid a conflict of interest he has to sell his shares, we get taken over by a Private Equity firm or large inverstor and we will be free of easyGroup and the man himself and his bullying tactics and total inability to be satisfied with anything or anyone. I would not want to work for him again!
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Old 26th Sep 2011, 16:53
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BHD2BFS

He started by leasing in B737-200s.
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Old 26th Sep 2011, 17:24
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ARE YOU SURE IT WASN'T A BWA BAC 1-11 ?
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Old 26th Sep 2011, 17:27
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Yes, absolutely sure. It was two ex-Britannia 737-200s leased from GB Airways at the time, CG and CH.
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Old 26th Sep 2011, 18:00
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Hmmm. Looks like Fastjet.com wasn't originally his (unless it's been 6yrs in gestation), but was repointed to a holding page on the 6th of this month:

FastJet.com - Fast Jet
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Old 26th Sep 2011, 18:01
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Torquelink......I think you will find he has NOT been calling the shots and there in lies the problem.
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