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Fastjet Claims No Breach Of Licence Agreement With easyGroup
LONDON (Alliance News) - African low-cost carrier Fastjet PLC on Wednesday issued a formal response to the open letter published by shareholder easyGroup Holdings Ltd last week, saying it does not believe it has breached the brand licence agreement.
easyGroup, owned by billionaire investor Stelios Haji-Ioannou and holder of a 13% stake in fastjet, sent a letter to Fastjet in which it alleged that the African low-cost airline had breached the brand licence agreement between the pair.
Fastjet said it has now reviewed the letter and has provided a formal response to easyGroup and, having taken legal advice, does not believe it has breached its licence agreement.
Fastjet shares were down 0.2% to 27.95 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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IN BRIEF: Fastjet Shares To Be Cancelled On AIM On Monday
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FJET.L News
IN BRIEF: Fastjet Shares To Be Cancelled On AIM On Monday
IN BRIEF: Fastjet Shares To Be Cancelled On AIM On Monday
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IN BRIEF: Fastjet Plots AIM Cancellation, Share Reorganisation
IN BRIEF: Fastjet Plots AIM Cancellation, Share Reorganisation
IN BRIEF: FastJet Says Solenta A Related Party In Eight Contracts
IN BRIEF: FastJet Says Solenta A Related Party In Eight Contracts
UK WINNERS & LOSERS SUMMARY: CMC Markets Rises On Expected Income Beat
UK WINNERS & LOSERS SUMMARY: CMC Markets Rises On Expected Income Beat
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Fastjet In Jeopardy After August Without Alternative Funding
Fastjet warns of potential collapse unless flights resume
(Sharecast News) - Shares in low-cost African airline Fastjet slumped on Friday after warning that the continued suspension of all flights and access ...
fastjet Unaware Of Any Specific Reason Behind Share Price Surge
fastjet Unaware Of Any Specific Reason Behind Share Price Surge
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