easy it's not, at Luton

EasyJet is into another fight between its principal shareholder (34%), Monaco-based Sir Stelios Haji-Ioannou, and chief executive Swede Johan Lundgren. 

Stelios wants the airline to cancel Airbus orders whilst the Board, headed by John Barton says it is on the right strategy of essentially a one-for-one aircraft replacement policy.

In 2010, Haji-Ioannou quit the board of easyJet, in order to attempt to force the management of the company to abort their expansion plans. 

Since that time he has criticised the senior management on a regular basis, but has taken hefty dividends when offered.  

His charitable foundation, the Stelios Philanthropic Foundation, supports education, as well as entrepreneurial and environmental initiatives through the provision of funding and advice in the UK, Greece and Cyprus.  It also sponsors annual awards with cash prizes to entrepreneurs in the UK, Greece and Cyprus. 

He has vigorously defended the word 'easy' in various court actions, winning some and losing some. 

Back in 2010 he told Management Today that "Basically, it's created no shareholder value for 10 years."

In 2010 the share price was less than 400p, and topped in March 2015 at 1880p. At the market close Friday 17 April it stood at 638p.

In a statement last week easyJet Plc said that it had access to enough cash to get through a nine-month grounding.

This graph shows the max and min fleet plan as it now looks.

www.easyjet.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum