EasyJet calls shareholder meeting under pressure from founder Stelios

EasyJet calls shareholder meeting under pressure from founder Stelios

Britain's easyJet said it will hold a general meeting of investors on May 22 to consider resolutions put forward by its biggest shareholder and founder Stelios Haji-Ioannou, who opposes the airline's strategy of buying more planes.

The coronavirus disease (COVID-19) outbreak in Amsterdam
FILE PHOTO: Easyjet airline airplanes are seen parked, as Schiphol Airport reduces its flights due to the coronavirus disease (COVID-19) outbreak, in Amsterdam, Netherlands April 2, 2020. REUTERS/Piroschka van de Wouw

LONDON: Britain's easyJet said it will hold a general meeting of investors on May 22 to consider resolutions put forward by its biggest shareholder and founder Stelios Haji-Ioannou, who opposes the airline's strategy of buying more planes.

Haji-Ioannou has called for shareholder votes on the removal of the low cost airline's chief executive, chairman, chief financial officer and another director, in an escalation of his long-simmering row with management.

Since the coronavirus pandemic brought air travel to a halt and forced easyJet to park up all its planes, Haji-Ioannou has called on it to terminate its 4.5 billion pound (US$5.6 billion) order with Airbus for 107 new jets.

EasyJet's management want to stick with the Airbus deal and has advised shareholders to vote against the resolutions.

(Reporting by Sarah Young; editing by James Davey)

Source: Reuters

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