Dubbed Fastjet, the no-frills carrier is expected to launch in three to four months, aiming to cash in on Africa‘s robust economic growth and a growing appetite for travel by its burgeoning middle class.
The move comes after Haji-Ioannou’s easyGroup teamed up earlier this month with pan-African conglomerate Lonrho to create the low-cost carrier. Lonhro, owner of budget airline Fly540, has agreed to sell its aviation business to investment firm Rubicon Diversified Investments, in which easyGroup will hold a 5% stake.
The new business will start operations using Lonrho existing network in Ghana, Kenya, Tanzania and Angola, before expanding to more markets in the future.
“These four countries are currently experiencing great GDP growth, along with oil and gas discoveries and developments,” says Ed Winter, chief executive of Fastjet.
“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,” adds Winter, who is easyJet’s former chief operating officer.
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- EasyJet founder Sir Stelios moves closer to low-cost African airline (guardian.co.uk)
- Will the easyJet model work in Africa? (travel.usatoday.com)