logo-loader
vieweasyJet plc

easyJet founder publishes further questions for chairman regarding Airbus deal

Haji-Ioannou has been battling with the board to scrap a £4.5bn aircraft order he says would drive the company’s finances into the ground

easyJet plc - easyJet founder publishes further questions for chairman regarding Airbus deal

easyJet PLC (LON:EZJ) founder Stelios Haji-Ioannou has submitted questions to the airline’s chairman John Barton to be asked at the general meeting on July 14.

Haji-Ioannou has been battling with the board to scrap a £4.5bn aircraft order signed with Airbus, arguing it would drive the company’s finances into the ground and even offered a £5mln bounty to any whistleblower holding information that could help scrap the deal.

READ: easyJet to shut bases at Stansted, Southend and Newcastle

He tried to kick out the chairman, chief executive and chief financial officer, but shareholders voted against his proposal.

The Greek-Cypriot entrepreneur said on Thursday the board had been “dishonest” to declare the air carrier was a going concern on May 22, since it raised more equity on June 24, so he is whether the directors were aware of the need for more cash a month before that.

He also added that, since easyJet did not terminate the contract with Airbus, the repayment of a £600mln government loan is “in serious doubt”, so he is asking whether the Bank of England or HM Treasury have been in contact about the loan.

Haji-Ioannou added his private investment vehicle, easyGroup, has information from four separate whistleblowers suggesting the Airbus deal was agreed after financial or other incentives were offered or given by Airbus to certain easyJet directors through offshore companies created, controlled or directed by Swiss lawyer Marc Bonnant.

Shares in easyJet rose 1% to 660.8p on Thursday early afternoon.

Quick facts: easyJet plc

Price: 570.8 GBX

LSE:EZJ
Market: LSE
Market Cap: £2.61 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Britvic PLC sees acceleration in at-home channel sales lead by Pepsi-MAX in...

Britvic PLC (OTCQX:BTVCF) (LON:BVIC) Director of Investor Relations Stephen Nightingale tells Proactive the manufacturer of soft drinks saw an increase at-home channel sales with its slew of trusted soft drinks, despite a months-wide lockdown in the UK. Nightingale says its carbonates...

21 hours, 14 minutes ago

2 min read