EasyJet’s Aircraft Cuts Bow To Stelios But Give Ryanair Dominance [Forbes]
EASYJET PLC S/ADR (ESYJY)
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Source: Forbes
EasyJet does not think its aircraft will be “useless,” but it is ceding to a smaller fleet plan as it recovers from the coronavirus crisis. Founder Stelios Haji-Ioannou is on a public campaign for EasyJet to drastically cut its fleet and cancel an order for 107 new “useless” Airbus aircraft.A smaller EasyJet helps another boisterous icon of European aviation: Michael O’Leary. The Ryanair LCC he runs could placefurther aircraft ordersEasyJet’s new maximum and minimum aircraft fleet sizes, and Ryanairplanned aircraft growthAircraft growth options from EasyJet (Apr 2020) and Ryanair (2019). Calendar year for Ryanair refers... [+]to its financial year starting April 1. Calendar year for EasyJet refers to its financial year ending September 30. Ryanair 2019 figure is as of Dec 31, 2019.Will HortonEasyJet is still not cancelling any aircraft. But deferring deliveries achieves Haji-Ioannou’s objective of reducing short-term capital expenditure, although not to the extent he wants. Deferring
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