Stelios deal over plan for Africa

EasyJet founder Sir Stelios Haji-Ioannou has entered a tie-up deal which could see his new brand used on a proposed “no frills” airline in Africa.

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 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 brand. The proposals are subject to shareholder approval.

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In 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.