Stelios Haji-Ioannou, founder of EasyJet, is set to launch a new airline to compete with his old company. The new airline will be called FastJet. Stelios sold controlling interest in the business ten years ago, and has been operating under a non-compete agreement with the new owners, but he claims that they have breached the agreement and so he's ready to go head to head with them.
I rather like EasyJet for providing a simple, bus-like shuttle around European cities. Generally, they provide superior service to their low-cost rivals RyanAir (I wouldn't fly RyanAir again even if it meant missing someone's funeral). And they've often shown innovative flourishes that I really appreciated -- for example, in Geneva, the EasyJet automatic check-in dispenses boarding-cards that are the same size as credit cards, so you can carry them in your wallet.
I'm inclined to think that whatever Stelios launches next will benefit from all the stuff he learned with EasyJet, and yet will be able to start afresh, avoiding whatever baggage EasyJet has to lug around as a result of its mistakes along the way. Certainly, Stelios seems to me to be someone who believes in a less humiliating, less uncomfortable, less stressful travel experience, and we could always use more of that.
One immediate difficulty Haji-Ioannou faces in launching a rival is that he continues to own 26% stake in easyJet, while family members have an 11% stake through a company called Polys Holdings.
The Haji-Ioannou family's combined holding was worth around £550m at Monday'sclosing share price. There were reports that other shareholders were calling for him to sell immediately.
It may not be easy, either, for Haji-Ioannou to achieve the success he had with easyJet when setting up a new airline.
(Image: Stelios Haji-Ioannou, CEO of easyGroup, a Creative Commons Attribution (2.0) image from 35952250@N02's photostream
In 2015, Mark Zuckerberg (who insists that privacy is dead) bought 100 acres of land around his vacation home in Hawaii to ensure that no one could get close enough to spy on him.
In July 2012, professional poker-player Phil Ivey won $4.8M from the baccarat tables at Atlantic City’s Borgata Hotel Casino & Spa in 17 hours; on other occasions, he took a total of $9M out of the Borgata: he did it by asking the house to deal Gemaco Borgata cards, whose backs contained minute asymmetries in […]
The five Volkswagen executives who were criminally charged in the USA for their role in the Dieselgate scandal have been advised not to travel to the USA because they are liable to arrest there: they’ve also been told that leaving Germany is risky because they might be arrested and extradited to the USA.
Using my iPhone while it’s charging is always a hassle. With tucked-away outlets and the meager length of included lightning cables, comfortable scrolling while plugged in is annoying. These 10-Ft MFi-Certified Lightning Cables are super convenient and probably the best iPhone accessory purchase I’ve made.At over three times the length of normal cables, these reach anywhere you […]
With countless applications for modern life, artificial intelligence (AI) is one of the most in-demand fields of study in tech. Beyond modelling human decision making processes and learning abilities, AI can be used to analyze massive volumes of data and create complex interactive systems.This Machine Learning & AI for Business Bundle made mastering these concepts possible for […]
Computer hacking isn’t just something happening to the DNC. Major software companies need white-hat hackers to ensure the security of their products and users, and I came across a Computer Hacker Professional Certification Package that conveniently teaches those advanced IT techniques online.This course package will prepare you for various computer security certification exams with over 60 hours […]