Sky News, 12 December 2011

Sir Stelios says his new business is the future of the car rental business
The founder of easyJet, Sir Stelios Haji-Ioannou, has added a car-sharing business to his rental operation.
He has joined forces with Brent Hoberman, founder of lastminute.com, to launch the venture.

From next year, a new website will allow private owners to rent out their own cars when they are not using them.

It claims it will give people a cheaper alternative to traditional car rentals, and potential customers will be able to use smartphone apps to book vehicles.
Sir Stelios said the new scheme "could prove to be the future of car rental and ownership in cities of the future".

easyCar has a network of over 3,500 car hire locations in over 60 countries
He said: "Rather than having to buy the cars to be rented and pay the ownership costs, this business model relies on the fact that there are plenty of under-used cars on the road already and that is lazy capital that can be put to work again."

Already operating in 60 countries, easyCar made £1m in profit last year.
Sir Stelios and Mr Hoberman aim to test the first 1,000 cars during spring 2012 in the London area.

And with the economy forecast to get worst next year, Mr Hoberman said 2012 would be "the right time" to launch the scheme.

The company has also claimed its new business model is greener than traditional car hire, claiming car sharing could get 10 cars off the road for each vehicle contributed to a club.