06/28/2012 02:31 pm ET

Low-Budget Airline To Take Off In Africa

A new airline is looking to make air travel more affordable in Africa.

Fastjet plans to launch in the next three to four months and aspires to become the most prominent pan-African airline, reports Reuters.

"It is the optimum time to launch because Africa is hugely underserved from an aviation perspective," said Ed Winter, the former EasyJet chief operating officer who will become Fastjet CEO. "It is the last frontier for aviation."

Backed by EasyJet founder Stelios Haji-Ioannou, the no-frills airline will first fly between Kenya, Tanzania, Ghana and Angola, countries that have all experienced a recent surge in GDP growth according to the Wall Street Journal.

Haji-Ioannou's easyGroup has partnered with Rubicon, a British investment firm, which recently acquired African low-cost airline Fly540. The deal struck means easyGroup will receive a royalty from Rubicon in return for an initial 5% stake in Rubicon, managerial advice and use of the name on Fly540 flights, explains CNN.