UPDATE 2-EasyJet founder steps up battle with management over Airbus order [Reuters]
EASYJET PLC S/ADR (ESYJY)
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Source: Reuters
EasyJet founder digs in on battle with management over Airbus order LONDON (Reuters) - Stelios Haji-Ioannou, easyJet’s ( EZJ.L ) founder and biggest shareholder, on Monday intensified his battle with the airline’s management over a huge aircraft order with Airbus ( AIR.PA ) which he says it should cancel. Haji-Ioannou said in a statement that he had told the airline he would not provide it with any new equity until it terminates a 4.5 billion pound deal with Airbus. He said he tried to change the company’s stance by calling for the removal of two of its directors. Stelios, as he is better known, says that the 107 planes on order are “useless”, after the coronavirus pandemic brought air travel to an almost standstill. The huge bill for the planes puts easyJet’s survival at stake, he said. Airlines across the world are struggling to say afloat. Whole fleets are now grounded, including easyJet’s 344 planes, due to travel restrictions and plunging demand over fears of contagion. Steli
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