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

Ethiopian Airlines wins SKYTRAX World Airline Award for the Best Airline in Africa

Ethiopian Airlines has won SKYTRAX World Airline Award for the Best Airline in Africa for second successive year.

Routes Africa 2018 Marketing Awards winners announced

The winners of the Routes Africa 2018 Marketing Awards have been revealed, with Cape Town Air Access the overall winner through to the final at World Routes in Guangzhou.

FIA2018: Rockwell Collins recognised by Airbus as a top performer for avionics support

Rockwell Collins has been honoured with a Customer Services Award for its avionics service by Airbus and its customer airlines at a special ceremony at the Farnborough Air Show held yesterday.

FIA2018: Africair signs PA for first Bell 407GXi in Africa

Bell Helicopter, a Textron company, has announced that Africair has signed a purchase agreement for the first Bell 407GXi in Africa.

Air Partner lion relocation flight is a roaring success

Air Partner, a aviation services group, was recently called upon to assist in the successful relocation of a lion on behalf of the Born Free Foundation.

Ethiopian Airlines selected as Dowty Propellersí authorised repair facility for Bombardier Q400s

Dowty Propellers has announced an agreement establishing Ethiopian Airlines as an authorised repair and overhaul facility in Africa for propellers on Bombardier Q400 regional airliners.

TAA SK0902311218
See us at
AirCargoAFA_BT220318210219AAD2018 BTGroundHandling BT2205130918AviationAfrica_BT0607280219