HAJI-IOANNOU CALLS FOR CHANGES AT EASYJET

Dino D'Amore
By Dino D'Amore July 13, 2011 09:28

HAJI-IOANNOU CALLS FOR CHANGES AT EASYJET

Stelios Haji-Ioannou, the founder of easyJet, has requested Michael Rake, chairman of the airline, to reduce the number of aircraft it owns and to ask for Sir David Michels to step down from the board earlier than planned.

In an 11-page letter to Rake, Haji-Ioannou accused the airline of having an “incestuous” relationship with Airbus and says other manufacturers should be allowed to compete for business with the low-cost carrier. He also says the strategy of increasing the size of the fleet is “destroying shareholder value and diluting the returns of the original order”.

The board was also criticized for not seeking shareholder approval for an aircraft order placed on January 4 and he asked for a full explanation for the reasons behind this.

Dino D'Amore
By Dino D'Amore July 13, 2011 09:28
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