Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Stelios to Raise Stake in Africa Discount Airline FastJet

July 25 (Bloomberg) -- FastJet Plc said that Stelios Haji-Ioannou plans to boost his holding in the African discount-airline startup to 5.81 percent from under 3 percent.

Haji-Ioannou, the founder of EasyJet Plc, agreed to take 110,334,156 newly issued Fastjet shares at 1 pence instead of royalty and consultancy payments, the London-based airline said in a statement today. The new stock will begin trading on July 30, boosting the African airline’s total share capital to about 2.98 billion ordinary shares.

“There is only one continent on earth where low air fares are not widely available yet,” Haji-Ioannou said in the statement. “Fastjet has demonstrated that travellers in Africa will react in exactly the same way as consumers elsewhere, to the availability of low-cost fares.”

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.