Fastjet’s row with one of its leading investors has deepened after the board representative of Sir Stelios Haji-Ioannou’s easyGroup resigned from the company.
The departure came at the end of a tumultuous week for the African low-cost carrier, which saw the war of words between the airline and its second largest shareholder intensify.
Fastjet has threatened to take legal action following the release of a damning letter from the easyJet founder.
Haji-Ioannou said that he was worried that the airline might not be able to pay its debts over the coming months.
Fastjet said in a statement: “The board considers the publication of this letter as wholly inappropriate and is taking legal advice on the matter. The company holds easyGroup responsible for any damage caused to the business by the publication of this letter.”
Following the statement, easyGroup’s Tim Ingram resigned from the fastjet board.
Last week shares in the company fell by 16% and closed on Friday at 30p.