Stelios unveils pan-African airline

28th Jun 2012

EasyJet founder Stelios Haji-Ioannou has announced the creation of a sister airline, promising to bring millions of low-cost flights to Africa.

The new airline, called FastJet, is expected to take off for the first time in around four months and is targeting African's burgeoning middle class and their appetite for travel.

Earlier this month, Haji-Ioannou's easyGroup joined forces with Lonrho, whose budget airline Fly540 previously provided low-cost flights throughout East Africa.

Under the new deal, Lonrho's aviation business will be sold to Rubicon Diversified Investments, in which easyGroup will hold a 5% stake, before expanding its fleet and relaunching as pan-African budget airline FastJet.

The new flight operator will begin flights using Lonhro's existing network in Ghana, Kenya, Tanzania and Angola, before expanding their markets at a later date.

Ed Winter, chief executive of FastJet, said: "These four countries are currently experiencing great GDP growth, along with oil and gas discoveries and developments.

"We believe that the time is absolutely right to change Fly540 into a much bigger airline based on the low-cost model which has been successful in every other part of the world."

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