November 9, 2024

Pegasus Voyage

Study the Competition

Stelios loses his grip on easyJet after 26 years

Sir Stelios has frequently clashed with easyJet’s administration more than options to increase the airline. 

Immediately after easyJet tapped shareholders at the start of the pandemic, he warned he would not back the board if they returned to the market to question traders for far more dollars. 

Sir Stelios declined to comment on the dilution of his stake in easyJet.

Some 93pc of shareholders backed the £1.2bn rights situation, place in position to pay back down personal debt and capitalise on the problems going through “legacy” carriers this kind of as British Airways. 

EasyJet’s place has been strengthened in the last week after BA’s plan to launch a new limited-haul airline at Gatwick were being scuppered by its pilots voting down the proposals. 

BA will proceed to run very long-haul products and services from the airport, but it is unclear if it will market the Gatwick landing slots or transfer them to an additional IAG airline this kind of as Aer Lingus or Vueling.

Shares ended two.7pc decrease at 690p, valuing the enterprise at £5.2bn. The inventory was at 412p at this time last yr.