EasyGroup and Rubicon to study African LCC

easyGroup, controlled by EasyJet founder Sir Stelios Haji-Ioannou, has tied up with Rubicon, a UK investment firm, to explore launching a low-cost carrier for Africa.
The plan is to hire a team of five aviation executives, selected and led by Sir Stelios.
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 5 per cent stake in Rubicon, with an option to increase its stake by a further 10 per cent.
easyGroup will also earn a 10-year royalty fee for Rubicon´s use of the fastjet.com brand. Sir Stelios announced plans to launch a new carrier called fastjet in September.
The proposed new airline still have to be voted on at Rubicon´s annual meeting on December 13.