Monday, 26 September 2011

Stelios to launch rival to easyJet


Stelios to launch rival to easyJet

EasyJet founder Sir Stelios Haji-Ioannou has revealed he is to set up a rival airline called FastJet.
The website fastjet.com has already been established, but only says: "By Stelios. Coming soon."
In a statement on its website, easyJet said any new airline controlled by Stelios would infringe its rights and promised to protect its shareholders.
EasyJet's statement said: "EasyJet plc announces that it has received notice from Sir Stelios Haji-Ioannou  that he intends to set up an airline branded FastJet and that a website, www.fastjet.com, has already been established.
"EasyJet has a number of rights under its agreements with Sir Stelios and easyGroup IP Licensing Ltd (a subsidiary of easyGroup Holdings Limited) as described in the Circular to shareholders dated November 16 2010.
"To the extent that any activity of FastJet, Sir Stelios or any company controlled by him infringes or would infringe those rights, easyJet will take necessary action to protect the rights of easyJet and the interests of its shareholders.
"Sir Stelios also 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has breached the terms of the binding comfort letter between him and easyJet of 10 October 2010 and that that letter is no longer in force, claims which easyJet emphatically rejects.
"EasyJet continues to seek constructive dialogue with easyGroup and Sir Stelios."