[69][70] The airline describes this as an "interim" measure whilst the next generation of aircraft propulsion is developed. The Boeing 737 twin-jet first flew 50 years ago, but it would be many years before air travel became affordable. Once Haji-Ioannou saw the results, he changed his mind and an e-commerce website capable of offering real-time online booking went live in April 1998; this was the first such website for a low-cost carrier in Europe. Southwest has an average fleet age of 11.9 years[50] whereas Ryanair's and EasyJet's average fleet ages are just a little over six years each. The agreement also provides details of procedures related to the termination of the licence and the process for a potential sale of the easyJet brand. easyJet PLC is one of Europe's largest airlines with a fleet of 323 aircraft carrying over 88.5m passengers annually (2018 figures). This is not fair and we will not accept it. Shares ended 2.7pc lower at 690p, valuing the company at 5.2bn. How rocketing rates could cost your family 1,000s (that's not including a mortgage! Stelios Haji-Ioannou wants you to surf the web at McDonald's. Consequently, easyJet announced a partnership with Airbus on a joint research project into zero-emission hydrogen aircraft. [107], On 20 July 2022, during the Farnborough International Airshow, EasyJet confirmed the placing of an order for 56 A320neo, including an upsizing of 18 A320neo from their original order to the longer A321neo model. Stelios Haji-Ioannou was born in February 1967 in Athens, Greece. [42], On 19 May 2020, the company revealed that it had been the subject of a cyber-attack resulting in the release of the personal information of 9 million customers. Reflects change since 5 pm ET of prior trading day. [96], EasyJet has a reward miles sharing agreement with Emirates. This was an instant success as many people around the world are interested in, or curious about, these multi-million dollar yachts and their wealthy owners. [11][32][34][35], On 18 June 2013, the airline announced an intention to acquire subject to shareholder approval 35 Airbus A320 aircraft, for delivery between 2015 and 2017, and 100 Airbus A320neo aircraft for delivery between 2017 and 2022. EasyJet is a low-cost airline based in London. ", "EasyJet paint job makes fuel bills less of a drag", "EasyJet looks to AI to cut delays and deliver its bacon butties", "easyjet will launch first electric plane in 2019", "EasyJet makes progress with electric aircraft plan", "EasyJet to offset carbon emissions from all its flights", "Sustainable flights, easyJet and Airbus work on zero-emission aircraft | SmartGreen Post | news from the environment", "EasyJet urges new tax to replace air passenger duty as part of green push", "EasyJet ads criticised over green claims", "EasyJet discriminatory wheelchair policy", "EasyJet accused of discriminating against disabled passengers", "EasyJet loses disability discrimination case in France", "French court fines easyJet over refusal to let disabled passenger board", "EasyJet threatens not to let passenger board after he criticises airline on Twitter", "Passenger sues easyJet after crew told her to move seats to satisfy ultra-Orthodox Jews", "EasyJet Europe nimmt Betrieb mit sterreichischem AOC und Betreiberbewilligung auf", "EasyJet confirmed as UK airline, despite EU ownership", "Report on the serious incident to Airbus A319-111, registration G-EZAC near Nantes, France on 15 September 2006", "Transaero Airlines and EasyJet Sign Commercial Agreement Press Statement", "Transaero to Cease Operations October 26", "EasyJet to Halt Moscow Flights on Slumping Demand", "easyJet (Group) Fleet Details and History", "Pictures: EasyJet's first A321neo makes Farnborough debut", "Snub for Boeing as Airbus lands EasyJet deal", "EasyJet's losses widen on sterling weakness", "easyJet takes delivery of first A321neo", "EasyJet orders 12 more Airbus A320neo aircraft", "easyJet confirms order for a further 56 A320neo Family aircraft | Airbus", "easyJet Firms Order For 56 Airbus A320neo And Upsizes 18 To A321neo", "Q&A with easyGroup's Stelios Haji-Iaonnou", "EasyJet wins reservation system copyright case", "EasyJet Boosts Order For Airbus A319s By 52 Aircraft", "EasyJet launches EasyJetHotels with Hotelopia as its new exclusive accommodation partner", "The death of traditional, inflexible package holidays EasyJetHolidays gives total flexibility of hotel and low-cost flight combinations", "Financial Protection for package holidays booked with EasyJet", "EasyJet relaunches package holiday business", Airlines of the United Kingdom and Channel Islands, List of defunct airlines of the United Kingdom, BlackRock Greater Europe Investment Trust, Henderson Smaller Companies Investment Trust, JPMorgan Emerging Markets Investment Trust, North Atlantic Smaller Companies Investment Trust, Sequoia Economic Infrastructure Income Fund, Templeton Emerging Markets Investment Trust, https://en.wikipedia.org/w/index.php?title=EasyJet&oldid=1161712749, Companies listed on the London Stock Exchange, Short description is different from Wikidata, Articles containing potentially dated statements from April 2023, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 4.0, Older aircraft are to be retired and replaced by A320neos, In the Airbus Cabin Flex (ACF) configuration, Both aircraft (G-BECG/G-BECH) were transferred to, This page was last edited on 24 June 2023, at 15:17. [71][72], EasyJet has been criticised in Germany for not observing European Union law on compensation (and assistance to passengers) in cases of denied boarding, delays or cancellations (Regulation 261/2004). London School of Economics and Political Science, Cyprus Marine Environment Protection Association, "Cranfield University 2006 Honorary Graduates", "Stelios plans to set up easyJet-style 'no brands' food store Business", "Pan-African low-cost carrier Fastjet launches scheduled flights", "EasyJet founder Stelios wins libel payout from Ryanair", "The MT interview: Sir Stelios Haji-Ioannou of easyJet", "Sir Stelios threatens to sell family stake in fresh easyJet row", "EasyJet founder Stelios calls for removal of CEO and chairman of "aircraft parking lot", Parties clash in corporate credentials battle, "Business supports George Osborne's national insurance cut", "Come Fly With Me: fasten your seatbelts", Stelios gives 200,000 for environmental research centre, "Eclectic Empire: Haji-Ioannou's EasyJet Still Optimistic", "Stelios threatens to grab easyJet's controls as profits nosedive", https://en.wikipedia.org/w/index.php?title=Stelios_Haji-Ioannou&oldid=1151745006, Naturalised citizens of the United Kingdom, Short description is different from Wikidata, Articles with unsourced statements from October 2014, Articles with unsourced statements from January 2022, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 26 April 2023, at 00:20. [20], In March 1998, EasyJet purchased a 40% stake in Swiss charter airline TEA Basle for three million Swiss francs. [120], Three distinct loyalty products are offered, tailored towards business and frequent flyers. [123], On 14 December 2004, EasyJet and Hotelopia, a subsidiary of First Choice Holidays, launched the co-branded EasyJetHotels accommodation booking service. The business tycoon has called. In 2004 it was sold to Fortress Investment Group LLC for US$677 million. A general meeting was held on 22 May, where shareholders ultimately voted over 99% in favour of the EasyJet board and retaining the Airbus contract. [77] In separate incidents in 2012, paralympians received similar treatment,[78] and a French court found the airline guilty of three counts of disability discrimination. When EasyJet received H89, it had a 1970s-style office setup. Start your Independent Premium subscription today. [22] In 2002, rival airline Go Fly was purchased for 374 million; the airline inherited three new bases from Go, at Bristol Airport, East Midlands Airport and London Stansted Airport; the acquisition of Go almost doubled the number of Boeing 737-300 aircraft in the EasyJet fleet. You may change or cancel your subscription or trial at any time online. [57][58], The Airline TV series created by LWT and filmed between 1999 and 2007 made EasyJet a household name in the United Kingdom. [19], The character of Omar Baba in the BBC comedy series Come Fly With Me is reportedly based on Haji-Ioannou. organisation Stelios maintains ownership of the easy brand through his private company, easyGroup. BA will continue to operate long-haul services from the airport, but it is unclear if it will sell the Gatwick landing slots or transfer them to another IAG airline such as Aer Lingus or Vueling. Sir Stelios threatens to sell family stake in fresh easyJet row Haji-Ioannou blamed the accident on an error by one of the surviving crew members. EasyJet founder Sir Stelios Haji-Ioannou has lost his control over his budget airline, after the company raised 1.2 billion in extra cash. It was estimated the airline could save 12% annually, equating to a 14 million reduction in fuel costs. You can still enjoy your subscription until the end of your current billing period. (see www.easy.com and www.easyHistory.info ). Which will take the typical wage-earner just four hours to afford. [40] In June 2020, EasyJet announced their intention to resume flights, flying half of their routes in July 2020 and up to 75 per cent in August 2020, though with reduced frequency. [51], Initially, EasyJet's employment strategy was to maintain control with minimal union involvement. The son of a Greek Cypriot shipping magnate, Stelios Haji-Ioannou founded the budget airline easyJet in 1995 after leaving his father's company. The details about yacht ownership as stated on this site and in our Yacht Owners Register are sometimes based on rumors. Stelios is known as the founder of EasyJet. As of March 2011, EasyJet Holidays has provided holidays and city breaks to all of the airline's routes. This was an instant success as many people around the world are interested in, or curious about, these multi-million dollar yachts and their wealthy owners. We have not been able to identify his private jet. It was delivered to her commissioning owner in 2012. [104] The company took delivery of the first A321neo on 18 July 2018 at the Farnborough International Airshow. Will more interest rate rises be bad for investors? She added that the A321neos would help to cut costs by 9 per cent. Daily Updates: easyJet grounding & related items - Easy.com Its "Food from the Heart" initiative, based in Limassol, hands out free lunchtime snacks to registered recipients in Nicosia, Limassol and Athens. Often actual yacht ownership by the private individuals mentioned can not be confirmed, at least from a legal point of view. His father Loucas Haji-Ioannou was a successful shipping magnate born in Cyprus. Cloudflare Ray ID: 7de7088efb5f2f59 Performance & security by Cloudflare. The Ryanair LCC he runs could place further aircraft orders during the downturn. [20], In April 1996, the first wholly owned aircraft was delivered to EasyJet, enabling the company's first international route, to Amsterdam, which was operated in direct competition with rival airlines British Airways (BA) and Dutch flag carrier KLM. But as he begins his sixth decade, he is seeking to help the next generation through the Stelios Philanthropic Foundation: giving cash awards to disabled entrepreneurs, and breaking down the barriers between Greek and Turkish Cypriots on the Mediterranean's divided island. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. In 2012 she was bought by Haji-Ionnou.The yacht can accommodate 8 guests in 4 cabins. That helps us fund This Is Money, and keep it free to use. What started as a yacht spotter hobby, turned into a fast-growing yachting site with thousands of unique daily visitors. Whilst in 2019 the family owned 33.7% of easyJet, by the end of September 2021 they . easyGroup, the creator and owner of the easy family of brands (www.easy.com) has today announced another important extension of the brand into household cleaning products.By joining forces with David Pearce and Darren Mosley of www.easy-cleaning.co.uk, Sir Stelios Haji-Ioannou's well known orange easy logo will be applied on millions and millions of products now sold at supermarkets and . Join thought-provoking conversations, follow other Independent readers and see their replies. [25] However, in April 2006, the threat of takeover receded as FL sold its stake for 325 million, securing a profit of 140 million on its investment. easyJet Firms Order For 56 Airbus A320neo And Upsizes 18 To A321neo Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in. Low-fare carrier founder is at odds with airline management - and conventional wisdom Former Billionaire Stelios Turns Whistleblowing Into Bounty - Forbes As if managing the fallout from coronavirus travel restrictions in Europe and grounding its entire fleet was not enough, low-cost airline easyJet is reported to be embroiled in a dispute with its founder, Sir Stelios Haji-Ioannou. [103] The current generation A320s and fifty of the A320neos will replace current A319 aircraft. His sister Clelia and brother Polys each hold stakes of 11.3 per cent, giving the family control of 38.2 per cent. [66], On 27 September 2017, EasyJet announced its partnership with an American start-up company Wright Electric with the purpose of developing and introducing a short-haul 120-seat all-electric airline. He threatened to call a general meeting to remove a director every three weeks unless subsequent action was taken. [18][20] Competitors responded to the emerging EasyJet in different ways; while BA was largely indifferent, KLM allegedly chose to respond with a predatory pricing strategy that led to an investigation by the European Union over unfair competitive practices. These funds are to be used to develop their strategy for the post-Covid economic recovery. [59] The airline has used a number of slogans since its establishment, including "The Web's Favourite Airline", "Come on, let's fly" and "To Fly, To Save" (a parody of British Airways' slogan "To Fly, To Serve"). On the other hand where theres smoke, there is fire ;-). He founded Stelmar Shipping based in Athens in 1992. Is Stelios still involved with EasyJet? - Tag-challenge.com In April 1991, a Troodos-owned VLCC oil tanker suffered a disaster that resulted in six deaths and spilt about 50,000 tons of crude oil into the sea, becoming arguably the Mediterranean's worst-ever ecological disaster. Especially for airlines, which were grounded for months. In 2006, at the age of 39, Stelios received a knighthood from HM Queen Elizabeth II for services to entrepreneurship. [61][62] Speaking at the time, EasyJet chief executive Andy Harrison commented that: "We have not developed a new concept. [49] One main difference EasyJet and Ryanair have from Southwest is they both fly a young fleet of aircraft. The airline secured options on these aircraft back in 2013, but has moved to firm the order to secure its delivery slots between 2026 and 2029. [17], EasyJet has its roots in the business activity of Greek-Cypriot Stelios Haji-Ioannou, who reportedly gained an interest in the aviation business after being approached as a potential investor in Virgin Atlantic's Greek franchisee. At the time, EasyJet stated that it intended to introduce electric aircraft into revenue service within 10 years. Both of his siblings have a large stake in easyJet. [39] In April 2020, EasyJet secured a 600 million loan from the UK Government with no environmental conditions attached. [22][111][112], In December 2001, the airline switched from a third-party reservation system to an in-house system. The share price has gone up and down as it's got bigger and things have happened but overall, really it's gone sideways. The airline offers headphones for purchase, along with a travel pillow and eyeshades, subject to stock. [citation needed], Most recently the Foundation has joined the relief effort aimed at helping those in Greece and Cyprus worst affected by the current economic downturn. Stelios attacks easyJet's Airbus decision - The Guardian The webs favourite airline, was the next slogan to be painted on the side of the aircraft. The row between Fastjet and co-founder Sir Stelios Haji-Ioannou has heated up after the African budget airline said it was taking legal advice in response to his threat to take back the brand,. He stated at the time that this appointment did not reflect his political affiliations, adding, "I agreed to be included in the group of entrepreneurs because I was assured it will be non-partisan. He and his family remain its largest single shareholders (34%) in the airline, capitalised at 4.17bn as of 9 May 2019. Stelios Haji-Ioannou is something of a freak. Sir Stelios launches easyBoat.com - Easy Is it safe to book a flight to Europe this summer, does it matter about FCO advice and can I obtain a cash refund if it's cancelled? But I have stayed in an easyHotel, sailed on an easyCruise, caught an easyBus and paid a bargain 1 for a decent easyCoffee in Leicester Square, central London. EasyJet has its roots in the business activity of Greek - Cypriot Stelios Haji-Ioannou, who reportedly gained an interest in the aviation business after being approached as a potential investor in Virgin Atlantic 's Greek franchisee. LONDON, Sept 26 - EasyJet PLC <EZJ.L> said founder Stelios Haji-Ioannou plans to set up another airline and call it Fastjet, stoking tensions between the budget airline's management and its top . In 2017, you can easily find return flights from Gatwick to Athens on easyJet for 66 return (I recommend a spring escape on 25 April for a fortnight). To encourage them to do so, the purchase price of a new share has been set at 48% below its usual price. Not Europe's Stelios Haji-Ioannou, a battling Greek born to wealth, but tearing the old order apart. View PDF version From: Sir Stelios Haji-Ioannou To: Non-executive directors of easyJet PLC Date: 29 March 2020 Haji-Ioannous battle with the top-level management of the firm he founded centers around the decision to buy 107 new aircraft from Airbus, which he said in an open letter to non-executive directors of easyJet in March that the company CANNOT afford, adding that the cost of the new Airbus planes, at $5.5 billion, dwarfs todays easyJet market capitalisation of 2.4 billion, ($2.93 billion). When flights are cancelled, passengers are supposed to be reimbursed within one week. Porsche unveils its slick new Mission X car for its 75th birthday, Darren Turner breaks 200mph speed barrier in Aston Martin's Bulldog, Swedish company Luvly launches a flatpack electric car, Late Sir Bruce Forsyth's vintage 60K Rolls-Royce goes up for auction, Office-based operator drive vehicle while sitting miles away, Live like a supercar: Dubai to build residence like Bugatti, Aston Martin unveils the new Bond car in flashy video preview. Sky News can reveal that Sir Stelios Haji-Ioannou, who along with members of his family owns close to 34% of easyJet, will announce on Monday that he will seek to remove Andrew Findlay, its finance chief, as well as non-executive director Andreas Bierwirth. Simply log into Settings & Account and select "Cancel" on the right-hand side. This new tech venture aspires to become the go to online . Please do send us a message. Easy does it as Stelios sells another stake in airline Yet by the time the maternity ward of 67 hit their 30th birthdays, in 1997, the fare to the Greek capital had fallen. Whilst in 2019 the family owned 33.7% of easyJet, by the end of September 2021 they will own only 15%. In 2001 Stelmar was floated on the New York Stock Exchange. [17], On 10 September 2021, the company claimed it had rejected a takeover bid from rival Wizz Air. In 2010, Haji-Ioannou quit the board of EasyJet, in order to attempt to force the management of the company to abort their expansion plans. "[18], In an April 2010 letter to the Daily Telegraph, Haji-Ioannou joined 23 other UK business leaders, including Marks & Spencer's Stuart Rose and Next's Simon Wolfson, criticising the Brown government's plans to raise National Insurance contribution rates. EasyJet has maintained the highest standards of governance and scrutiny in respect of its aircraft procurement processes.. This site is for entertainment purposes only. fHi from Stelios Dear friends and colleagues, The easy brand, which I started with the launch of the airline in 1995, is now used by more than a dozen different businesses and millions of consumers from all over the world. ', In response, Stelios said: 'The short answer to any of the scoundrels if they are threatening to sue me is 'see you in court'.'. Previously EasyJet had only operated from Berlin-Schnefeld Airport and Berlin-Tegel Airport, where EasyJet had taken over some of Air Berlin's old services. Premium access for businesses and educational institutions. Since that extraordinary general meeting . Since 2012, all passengers are allocated numbered seats before boarding commences, as it was found that this does not slow down boarding times and could earn more revenue than Speedy Boarding. [54] It also announced its first annual loss during the 25-year history of the company. https://www.forbes.com/profile/stelios-haji-ioannou/, https://en.wikipedia.org/wiki/Stelios_Haji-Ioannou. STELIOS HAJI IOANNOU - Net Worth $1.2 billion - Owner of the yacht Fly Me To The Moon Who is Stelios Haji- Ioannou? The primary driver of the cost is the re-registering of aircraft in an EU AOC jurisdiction. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. What Stelios was doing before lift became 'easy' Customers booking flights through the airline's website are provided with quotes for several hotels at their destination. An Easyjet spokesman said: 'We are committed to resume constructive relations with our major shareholder and our chairman John Barton has written to Stelios to invite him engage in direct discussions. The key points of this business model are high aircraft utilisation, quick turnaround times, charging for extras (such as priority boarding, holding baggage, and food) and keeping operating costs low. Stelios loses his grip on easyJet after 26 years - The Telegraph Stay informed and spot emerging risks and opportunities with independent global reporting, expert The airline modernised the building and painted it orange. Out of the sum, 600 million came from the Covid Corporate Financing Facility provided by the UK government and over 400 million was raised from the placement of shares. EasyJet was reported to have secured a significant reduction on the list price of the aircraft as part of their original 2013 deal with Airbus. Its pilot training scheme was the subject of another ITV television series, easyJet: Inside the Cockpit, which premiered in August 2017. Geneva was EasyJet's first new base outside the United Kingdom. The stock was at 412p at this time last year. How often do rich kids grow up into iconoclastic entrepreneurs? [56], EasyJet's early marketing slogan was "making flying as affordable as a pair of jeans". [1] His father's family originates from the village of Pedoulas high in the Troodos Mountains of Cyprus, while his mother is from the village of Laneia at the foot of the mountains. The easyJet founder has reached a milestone, but what does the future spell for the easyGroup? [124][125], On 28 June 2007, the airline expanded its relationship with Hotelopia by launching EasyJetHolidays, which offers Travel Trust Association protected package holidays made up of EasyJet flights and Hotelopia accommodation products. [118] Onboard sales are an important part of the airline's ancillary revenue; gifts such as fragrances, cosmetics, gadgets as well as duty-free cigarettes, rolling tobacco and a large selection of spirits. The Climate Crisis And The Need To Reimagine Global Institutions, Former Billionaire Stelios Turns Whistleblowing Into Bounty Hunting For Angry Shareholders, Does Virgin Atlantic Pay U.K. Tax? EasyJet says cancelling forward aircraft deliveries will require it to compensate Airbus for discounts on 45 aircraft already delivered. Companies include EasyCar, EasyHotel, EasyGym, and Easy Office. As a result, it is the first major airline in the world to operate net-carbon-zero flights across its entire network. [16] This came after the company had flown 650 "rescue flights", taking 45,000 people back home. The group is licensing the Easy brand name to companies offering consumers more value for less. Icelandic firm is said to have its eye on the successful budget airline. Sir Stelios looks to take controls at EasyJet | Financial Times Within a year, over 50% of bookings were made using the website; by April 2004, the figure had reportedly jumped to 98%. Going under the 25pc threshold means that Sir Stelios is unable to veto key decisions by the board that require the support of three-quarters of shareholders. Sir Stelios itching for a dogfight with easyJet - The Guardian This principle became a cornerstone of EasyJet's operations. The group is licensing the Easy brand name to companies offering consumers more value for less.Companies include EasyCar, EasyHotel, EasyGym, and Easy Office. Some 93pc of shareholders backed the 1.2bn rights issue, put in place to pay down debt and capitalise on the problems facing "legacy" carriers such as British Airways. Stelios and his family still own 30% of the shares.EasyGroupStelios is the owner of the EasyGroup, which acts as his investment holding.
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