SymbolPriceChangeEJETF.PK5.650.00RUBNF.PK0.270.00{

easyGroup, controlled by EasyJet (Other OTC: EJETF.PK – news) founder Sir Stelios Haji-Ioannou, has tied up
with Rubicon (Other OTC: RUBNF.PK – news) , an investment firm, to explore the possibility of launching a
low-cost, no-frills airline for Africa.

Rubicon said in a statement :
“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.

Under the proposed agreement, easyGroup would take a 5pc stake in Rubicon,
with an option to increase its stake by a further 10pc.

easyGroup will also earn a royalty fee for 10 years in relation to the use of
the fastjet.com brand. Sir Stelios announced plans to launch a new carrier
called fastjet in September.

The plan is to hire a team of five aviation executives, selected and led by
Sir Stelios.

The proposed new airline still have to be voted on at Rubicon’s annual meeting
on December 13.

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