Easyjet founder Stelios Haji-Ioannou says he is planning to open his first cinema, which will be painted bright orange, in London later in the year.

A spokesman for the Greek millionaire said the company wanted to see its internet and car-hire operations breaking even before pressing ahead with the cinema idea.

However, the spokesman added, Easyjet was already in talks with estate agents to find a suitable site at a "central location".

Easycinema tickets would cost as little as 20 pence if bought a month or two in advance.

Easyjet launched in November 1995, and Mr Haji-Ioannou is now worth £650m ($933m).

Mr Haji-Ioannou is also mulling an offering for backpackers; Easydorm could open hostels in London, Paris and New York.