Big developments underway at EasyJet
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UK budget airline, EasyJet, has reportedly taken steps to make a large aircraft order, despite protests from Sir Stelios Haji-Ioannou, whose family owns a 37% stake in the company.
According to the Daily Telegraph the line is seeking shareholder approval for at least 100 new aircraft – making a heavy increase on the current fleet of 217 aircraft.
However, Sir Stelios, who is firmly against such a move, which could “screw up this financial story”, sold 200,000 of his shares as part of a protest last week.
A senior spokesman for EasyJet told the Telegraph that: “We are not going to be intimidated by Stelios. We will do the right thing for the company in the long term.”
EasyJet’s current chairman, Sir Mike Rake, is due to step down as EasyJet prepares to enter the FTSE100 – with it against corporate governance guidelines to chair two FTSE100 companies. Deputy chairman Charles Gurassa is the current favourite to success Rake.