Introducing Fastjet.... Europe's newest low cost airline

Move aside EasyJet because Fastjet is about to give you a run for your money. Rather unexpectantly, it's EasyJet's founder that is launching the airline that will be its primary rival. Sir Stelio Haji-Ioannou is not in good standing with the airline he originally founded. In order to step it up, he is launching another low cost airline, called Fastjet.

Stelio wasn't just any entrepreneur when he founded EasyJet... he was 28 years old. Likely the youngest person to ever found an airline at the time in 1995. He just received news that he and his family will receive a massive pay-out from the airline for a sum of £71m in dividends. Stelio however has been in constant rows with his airline over money in the last year and this news doesn't come as a surprise, although it does breach an agreement that was reached between Stelios and EasyJet earlier this year.

What do you think he's going to do with that money? Create a new airline of course!

Fastjet.com is already online and if Stelios is really doing what he says he's doing then it should be up and running soon. It reads very simply, "By Stelios. Coming soon!"

Of course, no one really knows what this Greek business man is up to. It could all be a sham or threat in order to make EasyJet mad... as things usually go in the business world. But airline business analysts say that it'd be pretty hard to compete directly with giants like EasyJet and Ryanair in the European market. But who knows... maybe he'll create the first airline to cross the Atlantic Ocean at rock-bottom prices travellers can afford.

However this situation pans out, budget travellers coule have something to get excited about... or we may just have to be content with flying with EasyJet or Ryanair. Afterall... low cost is low cost, right?

Where would you like a low cost airline to fly?