Post by Jordi on Jul 26, 2013 17:33:59 GMT -5
Fastjet has a brand licence agreement with easyGroup Holdings Limited regarding the use of the Fastjet brand.
Fastjet’s chief executive officer Ed Winter said Sir Stelios’s decision to increase his holding in the company was “a testament to his confidence in Fastjet's success and faith in the low-cost airline model he pioneered”.
"Fastjet values its relationship with Stelios as a shareholder and brand licensor, and also for the unparalleled low cost airline experience he brings as a consultant to the company," Winter said.
Sir Stelios Haji-Ioannou said: "When we signed the original agreement a year ago, the company had very little other than a vision to start operating a proper low cost airline in Africa. Today, some nine months after the first Airbus 319 flight in Tanzania, Fastjet has demonstrated that travellers in Africa will react in exactly the same way as consumers elsewhere, to the availability of low cost fares.
"The roll-out of this embryonic operation from Tanzania to the rest of Africa will clearly take both time and more investment. I have faith that the extensive airline experience of Ed Winter and his management team will take the company to the next level.
"There is only one continent on earth where low air fares are not widely available yet. I believe Fastjet is now well placed to capture this final frontier. I will be watching their progress with great interest."
Shares in Fastjet were up 2% to 1.01p in mid-morning trade.
Source = www.proactiveinvestors.com/companies/news/46517/fastjet-welcomes-sir-stelioss-increased-stake-46517.html
Fastjet’s chief executive officer Ed Winter said Sir Stelios’s decision to increase his holding in the company was “a testament to his confidence in Fastjet's success and faith in the low-cost airline model he pioneered”.
"Fastjet values its relationship with Stelios as a shareholder and brand licensor, and also for the unparalleled low cost airline experience he brings as a consultant to the company," Winter said.
Sir Stelios Haji-Ioannou said: "When we signed the original agreement a year ago, the company had very little other than a vision to start operating a proper low cost airline in Africa. Today, some nine months after the first Airbus 319 flight in Tanzania, Fastjet has demonstrated that travellers in Africa will react in exactly the same way as consumers elsewhere, to the availability of low cost fares.
"The roll-out of this embryonic operation from Tanzania to the rest of Africa will clearly take both time and more investment. I have faith that the extensive airline experience of Ed Winter and his management team will take the company to the next level.
"There is only one continent on earth where low air fares are not widely available yet. I believe Fastjet is now well placed to capture this final frontier. I will be watching their progress with great interest."
Shares in Fastjet were up 2% to 1.01p in mid-morning trade.
Source = www.proactiveinvestors.com/companies/news/46517/fastjet-welcomes-sir-stelioss-increased-stake-46517.html