Fastjet sues its African partner

Marion Dakers
FLEDGLING African airline Fastjet is taking the boss of its sister carrier Fly540 to court in a spat over its operating licences.

Fastjet, which is listed on Aim and counts Sir Stelios Haji-Ioannou among its backers, contends that it has paid Don Smith in full for his shares in Fly540 Kenya and has applied to get all the documents needed to close the sale.

Smith said in a statement yesterday that Fastjet’s High Court application is “ignoring the fact that not all obligations of the deal have been fulfilled”, including the payment of intra-company debts.