Stelios Haji-Ioannou to launch low cost African airline – Fastjet

Rubicon said plans for launching Fastjet are under way but not yet finalized and the introduction of an “appropriate fleet” of modern jet aircraft may need extra funding.

Sir Stelios earlier this year lost a battle with the easyJet board when shareholders overwhelmingly backed its multi-million dollar pay plans.

Sir Stelios, who speaks for 37.4 percent of easyJet’s shares, failed to convince enough investors to join him in voting against the company’s remuneration report, as well as the re-election of four directors including chairman Sir Michael Rake.

Copyright 2012 The Press Association.

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