Stelios's Fastjet project gets nod from shareholders

London
Source:
This story is sourced from Pro
See more Pro news »

The creation of low-cost African carrier FastJet has moved a step closer after shareholders in Rubicon, the UK-based investment firm affiliated with EasyJet founder Stelios Haji-Ioannou, approved the acquisition of Lonrho Aviation's Fly540 business.

Rubicon's management team, working with partners from Lonrho and Stelios' EasyGroup, intends to transform Fly540 into Fastjet, which will be a low-cost, point-to-point, all-jet airline for Africa.

The new carrier could be launched later this year. Chief executive designate Ed Winter last month told Flightglobal that operations could start in three to four months. Fastjet will initially operate alongside Fly540, with that brand being phased out as FastJet takes delivery of new leased jets, which are likely to be either Airbus A319s or Embraer 190s.