EasyJet's board looks poised to win a shareholder vote on Friday and deal a blow to its founder and long-term critic over the British low-cost airline's plan to stick with a $5.5 billion plane order.
) board looks poised to win a shareholder vote on Friday and deal a blow to its founder and long-term critic over the British low-cost airline’s plan to stick with a $5.5 billion plane order.
Stelios Haji-Ioannou, whose family is easyJet’s biggest investor with a 34% stake, wants to oust the CEO, finance chief, chairman and another director, arguing their plan for the airline to buy 107 new Airbus aircraft could bankrupt it. The preliminary outcome of the vote will be announced during the virtual shareholder meeting which starts on Friday at 0900 GMT, with the final result expected later in the day.
EasyJet has said it has sufficient liquidity for a prolonged grounding during the pandemic. It has deferred the order of 24 of the new Airbus planes, and said the contract is vital as older aircraft need replacing.
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