Fastjet’s Lenigas pays himself just £1 a year... plus expenses

AIRLINE boss David Lenigas yesterday eschewed a traditional executive salary by agreeing to take home just £1 a year.

Lenigas, chairman of low-cost African airline Fastjet, will take the tiny annual salary plus “legitimately invoiced” expenses.

“I am passionate about the possibility of Fastjet's ability to change Africa's GDP growth profile,” the airline boss said yesterday.

“I have been doing business in Africa for a number of decades now and this is my personal way of contributing to changing life for the better in Africa.”

Lenigas added that low cost travel can be one of “the greatest motivators of economic development”.

“We can have a fundamental profound effect on the communities the airline will serve,” he said.

The Aim-listed airline launched flights at the end of November and carried almost 7,000 passengers on its maiden flights in Tanzania. Earlier this week, it was also eyeing a move into South Africa through buying a carrier out of bankruptcy.