(Adds background, share movement)
April 2 African budget airline Fastjet Plc
said it was in talks to secure financing from potential
long-term backers including easyGroup Holdings, the private
investment vehicle of billionaire Stelios Haji-Ioannou.
Fastjet shares jumped more than 7 percent to 1.85 pence on
the London Stock Exchange on Wednesday morning.
The company, which aspires to be the first pan-African
low-cost carrier, had said last month it was in talks with a
number of potential investors.
Stelios's interest in Fastjet surfaces at the time when he
has been inching away from easyJet, following several disputes
with the British budget airline's board.
The billionaire, who set up easyJet in 1995 at the age of
28, quit its board in 2010 and has since repeatedly criticized
the multi-million-pound pay packages awarded to its top
London-headquartered Fastjet said it would make an
announcement about the outcome of the discussions in due course.
(Reporting by Richa Naidu and Esha Vaish in Bangalore; Editing
by Joyjeet Das; Editing by Joyjeet Das)