He stepped away from the day-to-day running of the company ten years back and has been fighting with the board ever since; he now intends to set up a new company to rival Easy Jet.

To demonstrate his determination he has even set up a holding page for his new venture - www.fastjet.com.

One James Cooney registered the name Fast Jet Limited on companies house only this week to a residential address.

Stelios said: “I do not know this guy” and lawyers are being summoned. Not a great start to any new company.

The moral here is- if you have a new idea/business or product protect the trade mark- before you tell everyone about it- especially your competitors!