{"id":7946,"date":"2020-04-06T03:16:04","date_gmt":"2020-04-06T08:16:04","guid":{"rendered":"http:\/\/planesintheair.com\/?p=7946"},"modified":"2020-04-06T03:17:19","modified_gmt":"2020-04-06T08:17:19","slug":"easyjet-founder-says-will-not-inject-fresh-equity-into-company","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=7946","title":{"rendered":"EasyJet Founder Says Will Not Inject Fresh Equity Into Company"},"content":{"rendered":"\n
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FILE PHOTO: Easyjet founder Stelios Haji-Ioannou speaks at a media event to celebrate 20 years in business at Luton Airport<\/figcaption><\/figure>\n\n\n\n

(Reuters) – Stelios Haji-Ioannou, the founder of easyJet Plc <EZJ.L<\/a>>, has warned that he will not inject any fresh equity into the airline until it terminates a contract with Airbus SE <AIR.PA<\/a>> for 4.5 billion pounds ($5.50 billion), according to a letter https:\/\/easy.com\/wp\/wp-content\/uploads\/2020-04-05-stelios-media-statement-on-easyjet-and-airbus-for-release-6april20-final.pdf<\/a> posted on EasyGroup’s website.<\/p>\n\n\n\n

In his letter, Haji-Ioannou has also called for removal of easyJet’s Chief Finaicial Officer Andrew Findlay, after earlier calling for a board meeting on a vote to remove Andreas Bierwirth as a director, which was rejected by easyJet.<\/p>\n\n\n\n

“If this 4.5 billion pound liability to Airbus is preserved \u2013 and not cancelled – by the easyJet board then, I regret to report, easyJet will run out of money around August 2020, perhaps even earlier,” the founder said in his letter.<\/p>\n\n\n\n

“I will certainly not be throwing good money after bad. For the avoidance of doubt, I will not inject any fresh equity in easyJet whilst the Airbus liability is in place.”<\/p>\n\n\n\n

He also stated that he will continue to call for the removal of more directors every time the company delays the vote.<\/p>\n\n\n\n

He also wants easyJet to reduce its fleet size to 250 aircraft from 350, adding that the airline will not need any more additional new planes for many years to come.<\/p>\n\n\n\n

(Reporting by Juby Babu in Bengaluru; editing by Diane Craft)<\/p>\n\n\n\n

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Amsterdam Schiphol Airport<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Stelios Haji-Ioannou, the founder of easyJet Plc , has warned that he will not inject any fresh equity into the airline until it terminates a contract with <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[798,10174,797,4813,89,5637,10701,10700,10339,5992,7929,2203,4957,5676,10366,10169,10176,1397,10173,10195,10171,868,10182,1103],"tags":[1649,10419,47,464,420,11245,11244,160,3479,2341,9427,3426,1216,655,430,11249,7048,11241,419,11086,2553,11243,1483,3903,2552,4721,11237,11234,11235,11238,11248,3459,5954,2548,3913,412,4384,2898,3946,7232,11247,5405,11246,11242,5467,7597,1288,5665,588,11236,11239,1691,1658,10732,1471,8775,1939,11240],"class_list":["post-7946","post","type-post","status-publish","format-standard","hentry","category-airbus-news","category-airline","category-airline-news","category-airplane-news","category-aviation-news","category-business-news","category-coronavirus","category-covid-19","category-e-commerce","category-economic-news","category-european-news","category-finance-news","category-global-politics","category-international-news","category-low-cost-carrier","category-news","category-stock-news-2","category-stock-news","category-stockairline","category-transport","category-transportation","category-transportation-news","category-travel","category-travel-news","tag-1649","tag-according","tag-airbus","tag-aircraft","tag-airline","tag-andreas-bierwirth","tag-andrew-findlay","tag-aviation","tag-bengaluru","tag-board","tag-called","tag-cancelled","tag-chief","tag-company","tag-contract","tag-diane-craft","tag-director","tag-easygroup","tag-easyjet","tag-editing","tag-equity","tag-finaicial","tag-fleet","tag-for","tag-founder","tag-fresh","tag-haji","tag-inject","tag-into","tag-ioannou","tag-juby-babu","tag-letter","tag-liability","tag-meeting","tag-money","tag-news","tag-not","tag-officer","tag-out","tag-posted","tag-preserved","tag-reduce","tag-rejected","tag-removal","tag-remove","tag-reporting","tag-reuters","tag-run","tag-size","tag-stelios","tag-terminates","tag-transport","tag-transportation","tag-until","tag-vote","tag-warned","tag-website","tag-will"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7946"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7946\/revisions"}],"predecessor-version":[{"id":7949,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7946\/revisions\/7949"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}