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Sir Stelios changes phase in Easyjet deal to buy 56 jets from Airbus


Sir Stelios Haji-Ioannou has repeatedly called for a truce with Easyjet over a new order of billions of pounds of aircraft.

The airline’s founder and largest shareholder has backed the purchase of 56 A320neo planes from Airbus, part of a 2013 order for 107 planes worth £4.5 billion that he thinks will sink airlines when flights were grounded after the Covid shutdown.

The Cypriot tycoon, whose family owns 15% of Easyjet, has repeatedly lashed out at Easyjet bosses throughout the pandemic and sought to unseat four directors.

Turning point: Easyjet founder Sir Stelios Haji-Ioannou backed a deal to buy 56 A320neo planes from Airbus, part of a 2013 order for 107 planes worth £4.5 billion

Turning point: Easyjet founder Sir Stelios Haji-Ioannou backed a deal to buy 56 A320neo planes from Airbus, part of a 2013 order for 107 planes worth £4.5 billion

Turning point: Easyjet founder Sir Stelios Haji-Ioannou backed a deal to buy 56 A320neo planes from Airbus, part of a 2013 order for 107 planes worth £4.5 billion

He called management ‘scoundrels’, threatened to sue them and offered £5m to whistleblowers for information that could destroy the deal.

He said going ahead with the order ‘could be the biggest scandal in British corporate history’.

The airline lost billions of pounds while international travel was halted. But the 55-year-old’s change of heart marked the breakup of tensions.

Easyjet says the plane will consume 15% to 25% less fuel, ‘dramatically reducing’ costs.

They are also more profitable because they contain more room. It said the price would be much lower than £4.5 billion, due to concessions.

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