EasyJet founder Stelios Haji-Ioannou said he would not consider taking his new no-frills cruise company public for another five years.

Mr Haji-Ioannou, whose easyCruise venture has its maiden voyage in May, said he would also consider strategic partners to help grow the business but said any major investment was some time off.

"I don't really expect to make a profit for three to four years. If it works well, my intention is to fund it myself or seek a strategic investor," he told reporters.

EasyCruise, Mr Haji-Ioannou's latest product under the "easy" brand, will be the first no-frills cruise liner, offering short sea journeys and on-board accommodation at ports on the French and Italian Rivieras.

The entrepreneur, whose low-cost airline easyJet also took several years to turn a profit, said he has invested $20 million in easyCruise but plans to be "disciplined" in seeking further growth.

He hopes to expand from one ship with capacity for 170 passengers to no more than seven vessels in five years' time, but this would depend on the success of the first year of operations.

For between £29 and £159 per cabin a night, the ship will sail early in the mornings, stopping at ports in the afternoons and staying through the next morning.