in Business & Finance

Fastjet to acquire branding rights from EasyGroup

Posted 10 July 2017 · Add Comment

Fastjet plc the London-listed co-parent of Fastjet Zimbabwe and Fastjet, has announced plans to acquire the rights to the Fastjet brand from EasyGroup Holdings for USD2.5 million, reports ch-aviation.

The firm said in a statement issued last week that the two parties have already entered into an agreement which, once finalised, will result in "savings" to fastjet over the next five years. 

“Fastjet is a great brand in all its African markets, making it a highly valuable asset for the company," EasyGroup founder and CEO, Stelios Haji-Ioannou, said.

"I have accepted the view of the current board that the company should own its own brand rather than license it from me. I feel we have agreed on a fair price for its transfer - USD2.5 million – which is less than what the company would have had to pay over the next five years. I still hold shares worth about GBP1.3 million in the company and as such I will be a supportive shareholder, hoping to realize significant upside potential as Fastjet grows and prospers."

* required field

Post a comment

Other Stories
Advertisement
Latest News

Sudan's glimmer of hope

For a decade, Sudan Airways has struggled to maintain services in the face of US sanctions against the African nation. Those sanctions have now been eased, but the airline still faces problems, as deputy general manager, Yasir Timo,

Aero South Africa set to go

Messe Friedrichshafen, the global show for general aviation, has set its sights on a new destination....South Africa.

Boeing and FedEx express announce order for 24 medium and large freighters

Boeing and FedEx Express today announced a new order for 12 767 Freighters and 12 777 Freighters as the world's largest air cargo carrier continues to invest in the industry's most capable freighters to better serve its customers.

Fastjet increases flights between Harare and Victoria Falls

Fastjet will increase its flights between Harare and Victoria Falls by two additional frequencies with effect from 2 July 2018, reports Afritraveller.

The battle for survival

More than 50 local airlines have emerged and collapsed since Nigeria’s independence in 1960 and, as Chukwu Emeke reports, the cycle looks set to continue.

Honeywell research shows growing investment in 'connected' technology

The commercial aviation industry is at the beginning of a technology investment wave fuelled by advancements in high-speed, in-flight Wi-Fi connectivity according to a new report by Honeywell released today.

Routes African SK1505180718
See us at
AirCargoAFA_BT220318210219AAD2018 BTGroundHandling BT2205130918