EasyJet Founder Close To Starting Low-Cost Carrier In Africa

EasyJet founder Stelios Haji-Ioanno is pressing forward with his African airline initiative with the planned acquisition of a stake in Angola’s Fly540. Haji-Ioanno’s Fastjet Rubicon Investment company in what is defined as a reverse takeover will integrate with Lonrho Aviation, which owns part of Fly540, in a deal valued at $85.7 million. Lonrho will hold a 73.7% controlling stake in the new Rubicon, with Haji-Ioanno’s EasyGroup also holding a separate stake and two seats on the board of directors ...