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EasyJet Founder Stelios Calls Truce In Battle With Management - FT

By Dave Simpson

EasyJet EZJ.L founder Stelios Haji-Ioannou plans to call a truce in a dispute with the British airline's management and support the purchase of 56 new Airbus aircraft, The Financial Times reported on Wednesday 20 July, citing a person familiar with the matter.

Details

Haji-Ioannou, the airline's biggest shareholder, is planning to vote in favor of a multibillion-dollar order with Airbus AIR.PA at a shareholder meeting later in the day, according to the report.

Haji-Ioannou, who founded EasyJet in 1995, quit its board in 2010 and has clashed several times with the management since then.

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EasyJet declined to comment.

Airbus

Last month, EasyJet said it would buy 56 Airbus A320neo aircraft and convert a previous order to 18 new A321neo aircraft, fulfilling options in a 2013 deal with the European planemaker.

In December 2020, EasyJet agreed with Airbus to defer some deliveries of aircraft under the 2013 deal because the COVID-19 pandemic had put its finances under severe pressure.

The aircraft order had proved a source of dispute with Haji-Ioannou, who had opposed the investment at the height of the pandemic.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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