Sir Stelios Haji-Ioannou, easyJet founder and largest shareholder, has commented on two further resignations from the easyJet board

Commenting on two further resignations from the easyJet board, airline founder and largest shareholder Sir Stelios Haji-Ioannou said:

“I find the current situation very bizarre. Two more scoundrels running for the hills following the CFO’s resignation just two weeks ago.

23 April 2020
 Stelios 1,000 words for the easyJet notice of general meeting

Sir Stelios Haji-Ioannou has issued a letter to easyJet shareholders asking them to vote to remove 4 of the 11 directors

Dear Fellow Shareholder of easyJet PLC,

Why voting to remove 4 of the 11 easyJet directors is our best chance of avoiding bankruptcy.

1) Proxy vote for cancelling the Airbus order

I have called for this vote not for the removal of 4 directors from the board of easyJet but because it is the only method a shareholder has to require the remaining 7 directors to serve notice of termination to Airbus for the order for 107 additional completely unnecessary aircraft costing us £4.5 billion. 

easyHotel PLC
20 April 2020
 
easyHotel plc
("easyHotel", the "Company" or the "Group") 

Cancellation from trading on AIM
And
Exit opportunity for minority Shareholders 

easyHotel, the owner, developer, operator and franchisor of "super budget" branded hotels, today announces the cancellation of the Ordinary Shares from trading on AIM (the "Cancellation").

The Ordinary Shares will continue to be admitted to trading on AIM prior to the Cancellation. The Directors expect that the Company's trading facility on AIM will be cancelled with effect from 7.00 a.m. on 19 May 2020.

The Company has two large Shareholders, (i) Citrus Holdco, a company owned by a consortium comprising Cadim Fonds Inc (part of Ivanhoé Cambridge) and ICAMAP Investments S.à.r.l, which currently owns approximately 71.2 per cent. of the Ordinary Shares, and (ii) easyGroup, which together with its concert parties, currently owns approximately 25.8 per cent. of the Ordinary Shares.

easyGroup Holdings Limited
16 April 2020
 

Stelios statement on the easyJet /Airbus scandal 16 April 2019 at 12.12h BST 
Commenting on the easyJet 2020 H1 trading update released on the 16 April 2020, the airline’s founder and largest shareholder Sir Stelios Haji-Ioannou said: 

“I have previously referred those in charge of easyJet as scoundrels. This remains my view. They made a deliberate mistake in affirming the contract between easyJet and Airbus worth at least £4.5 billion whilst easyJet has a grounded fleet of 337 Airbus aircraft. Instead of serving a notice of termination to Airbus to cancel the contract they have deliberately chosen to send at least £2.5bn of our cash to Airbus in the years 2020-22. At least £1.5 billion of our cash (of the £2.5bn) is shown as going to Airbus in the next 9 months whilst the fleet could remain grounded. 

“In 9 months from now, or say December 2020, even the scoundrels admit that the company will run out of money.

easyGroup Holdings Limited
14 April 2020
 

Update from Stelios on the easyJet/Airbus scandal

Stelios sends complaint to the FCA (the regulator of the stock markets) regarding the behaviour of the directors of easyJet.
 

Stelios has hired a hard hitting legal team of Simon Bushell and Ben Jaffey to expose the deficiencies in the easyJet announcement of the 9th of April 2020 about “deferring” 24 aircraft deliveries from Airbus. 

The long argument can be seen in the letter but in short the “new deal with Airbus” must be put to a shareholder vote. 

The scoundrels at easyJet do not have the corporate authority to cut such a deal given the collapsed share price and the monumental size of the Airbus order of c GBP 4.5bn. If the FCA does not force the scoundrels to call a shareholder vote on new deal with Airbus , easyGroup will not hesitate to seek a judicial review. 

In plain English that means going to High Court judge to ask for an injunction to require the regulators to do their job properly. 

easyGroup Holdings Limited
09 April 2020
 
Latest comment by Stelios on easyJet and Airbus 

Sir Stelios Haji-Ioannou, founder and owner of the easy family of brands (www.easy.com), has made a comment on the announcement by easyJet PLC released to the markets at 1618 on 9 April 2020.

Stelios comment at 1722h on the 9th of April 2020 :

I strongly believe the directors of easyJet are in breach of the market abuse regulations by not disclosing the payments made and to be made from easyJet to Airbus this year. They are not being transparent with their investors and they are putting at risk £600m of UK taxpayers’ money by paying Airbus during the next 6 months of zero revenues. I consider this to scandalous. 

RNS Number : 1356J
easyGroup Holdings Limited
08 April 2020

Sir Stelios Haji-Ioannou, easyJet founder and largest shareholder, has made a statement on Airbus and easyJet and UK government loans, which can be found on www.easy.com.

Statement from Stelios on Airbus payments, easyJet and UK government loans
More information always updated on www.easy.com

easyGroup is the creator and owner of the easy family of brands and largest shareholder of easyJet PLC, however, I left the board of easyJet in 2010 in order to pursue shareholder activism. I have generally been at odds with the various directors from time to time and the way they are running the company, particularly about them ordering more and more planes from Airbus.

 
RNS Number : 5021I
Anglo-Suisse Capital Limited
01 April 2020

easyGroup requests easyJet general meeting

Sir Stelios Haji-Ioannou, easyJet founder and largest shareholder, has sent a letter to easyJet requesting a general meeting to remove Andreas Bierwirth as a director of easyJet