Fastjet Seeks Legal Advice On Letter Release

African budget airline Fastjet is taking legal advice after shareholder easyGroup made public a letter it sent Fastjet regarding their contractual relationship.

EasyGroup on Thursday sent a letter to Fastjet's board demanding that the carrier resume reporting monthly passenger statistics and updated cash flow forecasts for the current financial year.

"Whilst the board of Fastjet welcomes constructive engagement with all shareholders, it cannot understand why easyGroup… has published this particular letter without first raising its concerns with the company," Fastjet said in a statement.

"The board considers the publication of this letter as wholly inappropriate and is taking legal advice on the matter."

Fastjet declined to give further details. An easyGroup spokesperson declined to comment.

EasyGroup, which is controlled by Stelios Haji-Ioannou, is Fastjet's second-biggest shareholder with a 12.6 percent stake.

Stelios has been at odds with Fastjet. Two weeks ago he called for the immediate dismissal of Fastjet's chief executive, Ed Winter, saying the CEO had created a high cost base that was disproportionate to its six-aircraft fleet.

Fastjet said on Monday Winter would step down on March 18.