11 MAY 2009

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Article from BTNews 11 MAY 2009

easyJet in turmoil

EASYJET seems to be in something of a turmoil with founder and largest shareholder Sir Stelios Haji-Ioannou seemingly at war with the executive board.  CEO Andy Harrison wants to replace the remaining Boeing fleet with 91 new Airbus for a net increase of 28 aircraft.  Stelios appears to be more cautious and is making noises that now is not the time for major investment.  easyJet said pre-tax losses in the six months to the end of March had risen from UKP57.5m to UKP116.5m, despite a 16% increase in revenue from UKP892m to UKP1.03bn.  The airline expects to be profitable for the whole year.  www.easyjet.com

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