Stakeholder cracks down on Fastjet
Stakeholder Stelios Haji-Ioannou's feud with Fastjet has continued, as he gives the carrier until Thursday to address outstanding queries or risk the end of the commercial partnership.
EasyGroup Holdings published a confidential letter it sent to Fastjet, which outlined the company’s concerns with the carrier’s future, and demanded the carrier published its monthly passenger statistics and updated cash flow forecasts.
“Failure to provide answers to all the points above by the deadline will result in the Licensor being forced to issue notice to the Licensee under clause 22.2.2 to terminate the Brand Licence. The consequences of termination are set out in clause 23.1 which include an obligation to cease to carry on business under the Marks and the Domain Names. If you fail to comply, we will seek injunctive relief in the High Court in London and seek damages and costs from the Licensee," said Haji-Ioannou.
Fastjet is due to respond and is studying the letter with its legal advisors.
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