easyJet founder calls for airline’s fleet reduction

easyJet founder calls for airline’s fleet reduction

easyJet founder Stelios Haji-Ioannou has called for the airline to reduce its Airbus order as he claims the airline is misleading shareholders. The low-cost carrier converted its A319 to 35 A320s on 4 January, which increases the order value by 10%. Haji-Ioannou has accused the airline of not finalising the action with shareholders, which would “prevent directors of undervalued companies making transactions which are too large relative to the company’s market capitalisation.” He ruled out an ‘impossible’ 80% ‘secret discounting’ between easyJet and Airbus, which would have brought the value of the order down. Haji-Ioannou, who is a shareholder but left easyJet’s board, has sent an 11 page letter to the easyJet board and may also send it to the UK Listign Authority.

Gary Marshall
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Gary Marshall
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