FastJet names Mango Airlines CEO Bezuidenhout as CEO

Nico Bezuidenhout, incoming CEO, FastJet

FastJet has hired Nico Bezuidenhout, CEO of Mango Airlines, South African Airways‘ low cost unit, as CEO to help revive the U.K. discount airline following a plunge in its share price and an escalating spat with a top investor.

Bezuidenhout, 39, will start at FastJet on August 1st. The South African executive replaces Ed Winter, FastJet’s founding CEO, who quit in March following pressure from the company’s second-largest investor and EasyJet Plc founder Stelios Haji-Ioannou.

“Better late than never,” Stelios, as the entrepreneur is known, said in an e-mailed statement that welcomed the appointment. “Nico first appeared on a list of candidates put forward by a head hunter I had to hire last November.”

Bezuidenhout joins FastJet following a tumultuous sixth months for the Africa-focused airline, which warned in March that full-year earnings would miss analysts’ estimates. The airline was established four years ago with the ambition of becoming the first discount airline spanning sub-Saharan Africa.

The new CEO “brings strong commercial and strategic skills and a wealth of experience of operating a low-cost carrier,” FastJet Chairman Colin Child said in the statement. He has been head of state-owned SAA’s Mango since 2006, when the Johannesburg-based budget airline first started operations, and has served twice as acting head of its parent carrier.

Stelios reiterated his calls for the chairman to step down, saying the company had burned unnecessary cash while recruiting Bezuidenhout.

FastJet, based in London, uses five Airbus Group SE A319 planes, after agreeing to pull a sixth out of operation in April by terminating the lease early. The airline flies to airports in Tanzania, South Africa, Zambia, Zimbabwe, Uganda and Kenya, according to its website.

Source: Bloomberg