Plans by easyJet founder Sir Stelios to launch a new airline, tentatively called Fastjet, a have not surprisingly drawn much derision from within the airline industry. At this stage, we do not know how serious he is, nor do we know exactly what form this airline will take, but we certainly do know that there is little appetite amongst consumers for yet another low-cost European airline.
Some speculators have suggested that this might be low-cost with a twist — for example by either buying BMI itself, or its Heathrow slots, and offering a low-cost service between traditional premium airports. Others think that Stelios might have a go at the low-cost long-haul, or even the low-cost premium long-haul market. Neither of these two options would be a challenge to the easyJet business model, whereas a new low-cost airline, even if using premium airports, would certainly be a direct challenge to easyJet, in a market that is already saturated and unsettled.
Who needs Fastjet? The name brings associations with the latest British Airways advert, which draws nostalgically on their operation of Concorde, and reminds us that the crowded European skies and congested, security obsessed airports are making air travel slower, not faster. So would Stelios’ new airline, in whatever form it takes, really speed the whole game up? We very much doubt it.
Two years ago, then easyJet boss Andrew Harrison came up with a much more interesting proposal, the easyJet eco-jet, which was the concept for a new aircraft to be delivered around 2020, which when combined with other changes to European air traffic control, could deliver emission savings of up to 50% per passenger mile travelled. This at the time had many revolutionary features, and whilst not technically a jet, as it would use to rear mounted propellers, it would represent a step change in the airline industry. Cruising speeds would be around 10 to 15% slower than the typical jet aircraft used by the low-cost airlines, enough to take advantage of the efficiency savings rear mounted propellers will offer, but not so much a difference as to put people off from using it.
We’ve been through the low-cost revolution, and there is little that Stelios is likely to be able to deliver to develop this further, certainly in terms of European flights. We are still crying out for further developments in the environment revolution. Some people say that the term environmentally friendly flights is an oxymoron, but we have always begged to differ. Now is as good a time as any to bring forward the slow jet.