Stelios’s company, EasyGroup, will offer branding advice to investment firm Rubicon to help it explore the feasibility of launching the low-cost airline, which if accepted would see it take on exclusive rights to the fastjet.com brand.
EasyGroup, in exchange for its assistance, will take a 5 per cent stake in Rubicon, with an option to increase its stake to 10 per cent, and will also earn a royalty fee for ten years for the use of the fastjet.com brand. The proposals are subject to shareholder approval.
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Hide AdIn September, Stelios wrote to EasyJet, in which he and his family hold a 37 per cent stake, to inform it that he intended to form a new airline as the ongoing spat between the two worsened.