Turbulent year hits African budget airline Fastjet June 2, 2016 London-listed African budget airline Fastjet said a poor financial performance in 2015 had overshadowed its progress with plans to dominate the region's low cost air travel market. The figures Revenue grew 21 per cent to $65.1m (£45.1m) from $53.8m in 2014. The company narrowed its post-tax loss for the year to $16.9m from $58.5m. Fastjet also [...]
Shares in African budget airline Fastjet closed down over 10 per cent yesterday following EasyJet owner’s warning letter March 24, 2016 Fastjet's share price plunged yesterday, dropping by 10.95 per cent to close at 30.50p. The stock dipped on the first day of trading since Easy Group owner Sir Stelios Haji-Ioannou sent a letter to the African budget airline, threatening legal action over a series of alleged licence breaches. Easy Group – parent company of EasyJet – [...]
EasyJet owner Sir Stelios Haji-Ioannou threatens Fastjet with legal action over licence breaches March 22, 2016 Sir Stelios Haji-Ioannou, owner of the Easy group of brands – which includes Easyjet, has contacted the board of African budget airline Fastjet over a number of licence breaches. EasyGroup is the brand owner and licensor of Fastjet. In a letter to Fastjet chair Colin Child, Haji-Ioannou outlined a number of concerns, including the fact that since the [...]
EasyGroup representative Tim Ingram resigns from FastJet board over growing tensions March 18, 2016 Tim Ingram, EasyGroup Holding's representative on the board of FastJet, resigned from his board position at the latter firm earlier this afternoon. "The board has regrettably accepted Tim's resignation," Colin Child, non-executive chairman at EasyGroup, said. "I would like to thank Tim for his contribution and professionalism during his time on the board and wish him [...]
FastJet slams EasyJet founder Stelios for going public, is “taking legal advice” over letter about contractual relationship March 18, 2016 African airline FastJet has slammed EasyJet founder Sir Stelios Haji-Ioanno for going public with a letter relating to the two business' contractual relationships. The Tanzania-based firm is seeking legal advice, it said, over his "wholly inappropriate" actions. Haji-Ioanna, who helped set up FastJet four years ago and through EasyJet owns 12.6 per cent in the business, [...]
EasyFoodstore shuts after demand for 25p food clears shelves February 4, 2016 The EasyFoodstore has been forced to close just days after it was launched, after bargain-hunting Londoners stripped the shelves bare. The pilot was launched on Monday, in Park Royal, north-London, with an introductory offer of 25p applied to all items ranging from pizzas to jaffa cakes. Those looking to get their hands on a good deal [...]
EasyJet founder Sir Stelios Haji-Ioannau opens first EasyFood pilot store in London – with food priced at 25p February 2, 2016 Aldi and Lidl are about to get a taste of their own medicine, after EasyJet founder Stelios Haji-Ioannau has opened his first EasyFoodstore in north-west London, bringing the challenging spirit of the discount airline to the grocery sector. The Park Royal shop (next to the EasyBus depot on the North Circular, natch) will sell a limited and basic [...]
Accor executive checks himself in to Easyhotel April 14, 2015 EASYHOTEL has booked itself a new chief financial officer after hiring Marc Vieilledent from Europe’s largest hotel group, Accor. Vieilledent, who was executive vice president of asset management at the French hotelier until 2013, will join easyHotel on 5 May. He replaces Darren Mee, who left on 29 January just six months after the budget [...]
Easygroup’s Stelios denies he exploited small investors after Jon Moulton comments September 21, 2014 Exclusive: Easygroup entrepreneur Sir Stelios today denied he was using his famous business name to exploit small investors buying shares in the new estate agency easyProperty. Last week, private equity guru Jon Moulton argued in City A.M. that the retail shareholders are getting a bad deal, but are being persuaded to invest by the association [...]
In defence of easyProperty: Sir Stelios bites back September 21, 2014 Jon Moulton’s unprovoked attack in his column directed against me personally is nothing more than a cheap shot. Worse still, he has clearly not done his homework on easyProperty.com – the latest brand extension from easyGroup, my personal investment company. First, I believe he failed to declare an interest in the matter, as I [...]