Turbulent times at easyJet
EASYJET has drawn up plans to drop the “easy” name amid the escalation of a row with the airline’s founder, Sir Stelios Haji-Ioannou.
A court case next month is expected to clarify an agreement made when easyJet joined the stock market 10 years ago.
EasyJet was limited to making only a quarter of its earnings from non-airline products, such as car hire, hotels and food.
The plans emerged after Haji-Ioannou quit the easyJet board on Friday to give himself more freedom to criticise the company’s strategy. He believes easyJet is buying too many aircraft at a time when the sector is suffering from recession.
He is expected to consult fellow shareholders next week about calling an extraordinary meeting to discuss the company’s strategy.
Yesterday it was reported that two big investors will not be backing Haji-Ioannou’s campaign.