The row between Sir Stelios Haji-Ioannou and the board of Fastjet has escalated further.
Tim Ingram, the representative of Sir Stelios’ easyGroup Holdings, which owns 12.6% of the African budget airline, has quit the board with immediate effect.
The resignation came just after the airline refuted accusations in a letter from Sir Stelios about the way the business is being run and warning of an ‘insolvency event’ at Fastjet.
The airline said the publication of the letter was ‘wholly inappropriate’ and said it was taking legal advice on the matter.
"The company holds easyGroup responsible for any damage caused to the business by the publication of this letter," it said.
The airline’s chief executive Ed Winter and another director, Krista Bates, resigned last week following pressure from Sir Stelios.
The airline has issued three profit warnings in the last year.
