Africa could be about to benefit from a new low-cost airline thanks to a new venture from the founder of easyJet.
Sir Stelios Haji-Ioannou's EasyGroup has entered into a deal with Rubicon, a British investment firm, to do a feasibility study into the prospect of creating a budget airline for the African market.
The proposal means EasyGroup will be issued shares of 5 percent in Rubicon, with the option to take a further ten percent.
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A statement from the Chairman of Rubicon, Robert Burnham, said: “It iproposed that easyGroup will become a shareholder in Rubicon and will use the services of Stelios and easyGroup's experienced aviation management team to provide general strategic, management and branding advice on the feasibility of implementing a low cost, point-to-point, no frills, all jet aircraft business model for Africa."
EasyJet, a British airline founded in 1995, services cheap flights across Europe and is renowned for its “cheap and cheerful” image, expanding rapidly since its inception.
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