You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Sir Stelios Haji-Ioannou, the founder of low-cost airline easyJet and a former billionaire, has been criticised for his offer to pay a reward for internal information from staff that leads to a cancellation of a $5.5 billion Airbus order. Sir Stelios is pleased to welcome easyBoat.com run by Greek entrepreneur Alex Nastos to the easy family of brands. Whilst Air France-KLM received 10 billion euros from France and the Netherlands, easyJet received 600 million euros from the UK. [43], On 17 August 2020, EasyJet confirmed in a statement they would be closing three bases in the UK. [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. [15], On 30 March 2020, EasyJet temporarily grounded its entire fleet of planes due to the COVID-19 pandemic. Stelios owns an estimated 4% of the airline; his siblings Clelia and Polys both have large stakes as well. With thousands of daily visitors and a strong growth rate,SuperYachtFan became one of thelargest superyacht sites. The airline started operations on 29 November 2012 with Airbus A319 aircraft. Pandemics and travel do not sit well together. Former Billionaire Stelios Turns Whistleblowing Into Bounty - Forbes [87], EasyJet serves 136 destinations (as of February 2019). The judgement that followed reprimanded the airline in April 2007 after it made comments that its aircraft created 30% less pollution per passenger than some of its rivals. Early on, EasyJet operated as a paper airline, the aircraft themselves being flown and maintained under a lease. EasyJet - Wikipedia This sum is repayable by March 2021, which means in all probability the U.K. taxpayer will not see any of their money back on time unless the Airbus contract is cancelled., An easyJet spokesperson told Forbes: As we have previously stated, the board firmly rejects any insinuation that easyJet was involved in any impropriety. EasyJet has maintained the highest standards of governance and scrutiny in respect of its aircraft procurement processes.. For cost savings, you can change your plan at any time online in the Settings & Account section. Do you know more about this yacht? View PDF version From: Sir Stelios Haji-Ioannou To: Non-executive directors of easyJet PLC Date: 29 March 2020 Pass notes No 3,051: Stelios Haji-Ioannou | easyJet - The Guardian Further outlets to help cope with the refugees landing on Aegean islands are in the planning stage. The ketch yacht is designed by Studio Scano.We believe Stelios owns another sailing yacht, which he keeps at his house in St Barths. . or 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. Along the way, easyJet took on and then swallowed up BAs first attempt to set up a low-cost rival, Go; the first Go flight was subject to a publicity hijack by Stelios leading a party of easyJet staff in orange boiler suits. [9] It employs circa 13,000 people, based throughout Europe but mainly in the UK. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. The Boeing 737 twin-jet first flew 50 years ago, but it would be many years before air travel became affordable. Other executives of the airline saw the potential and approved a website trial involving putting a different telephone reservation number on the website to track success. The amount of aid for the post-Covid recovery is also a problem. He went on to obtain an MSc in Shipping, Trade & Finance from Bayes Business School. She has a range of more than 3,800nm. Stelios was an early adopter of the possibilities of internet sales, and drove passengers to book online by making it impossible to book a flight more than a month ahead except via the web. His father Loucas Haji-Ioannou was a successful shipping magnate born in Cyprus. But where will the money come from to get the ship back on course? 2023 Forbes Media LLC. 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. ', He then went on to say: 'Basically, it's created no shareholder value for 10 years. [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. The content of this website and all associated media are subject to copyright. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Founder Stelios Haji-Ioannou is on a public campaign for EasyJet to drastically cut its fleet and cancel an order for 107 new "useless" Airbus aircraft. [30] This acquisition was valued at 103.5 million, and was used by the airline to expand its operations at Gatwick,[31] and to establish a base at Manchester Airport. There is no incentive for travel agents to book flights on the airline because it does not pay commissions, which is an industry-standard practice for low-cost carriers. Discount airline cites July traffic and "ancillary revenue," reaffirms FY06 profit view. [6] It operates domestic and international scheduled services on 927 routes in more than 34 countries via its affiliate airlines EasyJet UK, EasyJet Switzerland, and EasyJet Europe. In 2000, easyJet PLC was partially floated on the London Stock Exchange. Instead, he opted to work ferociously hard to cut the cost of flying from Luton to Scotland to the price of a pair of jeans. Whistleblowers in 99.9% of cases are people who speak up about wrongdoing, that actually protects an organization. I cover the work and wealth of Europe's richest. EasyGroup Holdings Ltd, the investment vehicle of the airline's founder, Greek-Cypriot businessman Stelios Haji-Ioannou,[8] is the largest shareholder with a 15.27% stake (as of September 2021). Find your bookmarks in your Independent Premium section, under my profile. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Stelios loses his grip on easyJet after 26 years - The Telegraph Several of these aircraft were based at Berlin-Tegel Airport, before its closure. [64] In October 2018, EasyJet stated that progress was being made on its electric ambitions and that the partnerships planned to test a nine-seater electric plane as early as 2019. Stelmar grew to operate 41 oil tankers. The yacht can accommodate 12 guests and has a crew of 7. Saying he isn't cut out for the boardroom, Stelios Haji-Ioannou resigns as chairman of EasyJet. 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? (see www.easy.com and www.easyHistory.info ). Moreover, this is the first time since its inception that the company has lost money namely 1 billion in its 2019-2020 financial year. Since 2009 he has been the Honorary General Consul for the Republic of Cyprus in the Principality of Monaco. Born into a wealthy ship-owning family, he is best known for founding the low-cost airline easyJet and the Stelmar shipping line with start-up funds provided by his father, Loucas. [6] The tanker, M/T Haven, was an elderly vessel, formerly the Amoco Haven, sister ship of the ill-starred Amoco Cadiz that had foundered in 1978. university The group is licensing the Easy brand name to companies offering consumers more value for less.Companies include EasyCar, EasyHotel, EasyGym, and Easy Office. You may change or cancel your subscription or trial at any time online. He owns a 15.6 per cent stake in EasyJet, worth about 180m. [61][62] Speaking at the time, EasyJet chief executive Andy Harrison commented that: "We have not developed a new concept. 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 . A return trip from Gatwick to Athens typically cost 99 about six days work at the average salary. Premium access for businesses and educational institutions. Passengers occasionally had to wait longer for reimbursement of their expenses. [106], On 19 November 2019 EasyJet ordered an additional 12 A320neo, taking the total neo orders, including the A321neo, to 159. Here's the proof banks are robbing savers blind. The webs favourite airline, was the next slogan to be painted on the side of the aircraft. He lives in Monaco.At the age of 25 he received US$ 45 million from his father to start his own company. Due to this seating arrangement, to satisfy safety requirements the airline's Airbus A319 aircraft have two pairs of overwing exits, instead of the standard one-pair configuration found on most Airbus A319 aircraft. Check if your Passengers can pay an additional fee for certain seats such as the front few rows and overwing seats (which have extra legroom). Stelios still owns a third of Easyjet's shares with his family - though he sold a 0.7 per cent stake in the group last week, worth around 22m. [7] EasyJet plc is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Sir Stelios threatens to sell family stake in fresh easyJet row EasyJet founder Stelios Haji-Ioannou has lost 1.2billion in less than a month as the value of his shares in the airline plummet during the coronavirus pandemic. his family still owns 38% of the airline. This was the first codeshare agreement for EasyJet; it was terminated when Transaero Airlines ceased to operate in October 2015. In 2019 Stelios donated US$ 10 million to his fund.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'superyachtfan_com-medrectangle-4','ezslot_7',696,'0','0'])};__ez_fad_position('div-gpt-ad-superyachtfan_com-medrectangle-4-0');Sir Stelios also signed theGiving Pledge, a commitment by the worlds wealthiest individuals to dedicate the majority of their wealth to giving back.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'superyachtfan_com-medrectangle-3','ezslot_6',849,'0','0'])};__ez_fad_position('div-gpt-ad-superyachtfan_com-medrectangle-3-0');Sourceshttp://stelios.org/about-us/stelios.htmlhttps://www.easyjet.com/en/https://www.forbes.com/profile/stelios-haji-ioannou/https://en.wikipedia.org/wiki/Stelios_Haji-Ioannouhttps://bilginyacht.com/timeless-160/. [27] By 2015, the company was flying routes to more than 130 destinations in 31 countries, operated 26 bases centred around Europe, and had a total of 10,000 employees. Haji-Ioannous offer to pay for information has been criticized by those on the frontline of whistleblowing in the U.K. Andrew Samuels, now a partner at WBI Consulting, developed the whistleblowing programme at Barclays bank that resulted in a $780,000 fine being imposed on Barclays chief executive Jes Staley for the attempted unmasking of a whistleblower in June 2016, describes the idea of a reward or bounty as both appalling and legally questionable. 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. 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. The Telegraph values your comments but kindly requests all posts are on topic, constructive and respectful. [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. easyJet could shrink its fleet by 56 aircraft by 2023 - Head for Points Easy does it, Stelios | News | Flight Global Stelios Haji-Ioannou was born in Athens on 14 February 1967, the second of three children of Nedi (ne Potsos) and Loucas Haji-Ioannou. and other data for a number of reasons, such as keeping FT Sites reliable and secure, EasyJet founder Sir Stelios Haji-Ioannou has lost his control over his budget airline, after the company raised 1.2 billion in extra cash. [105], On 20 November 2018 EasyJet ordered an additional 17 A320neo, taking their total neo order, including the A321neo, to 147. 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. Photo by Eamonn M. McCormack/Getty Images. Sir Stelios Haji-Ioannou ( Greek: , romanized : Stelios Hatziioannou; born 14 February 1967) is a Greek Cypriot entrepreneur. [22] By 2007, EasyJet was claiming to be operating more flights per day than any other European airline. The dilution marks a watershed moment for the businessman, who founded easyJet in 1995 aged 28 with a 5m loan from his father. Start your Independent Premium subscription today. Easyjet considering legal action against Stelios | This is Money It has 29 bases across Europe, the largest being Gatwick. 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? Our reporting is copied and/or used by many international media companies. Stop insulting savers! [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. [12] In 2014, the airline carried more than 65 million passengers,[13] making it the second-largest budget airline in Europe by number of passengers carried, behind Ryanair. At the age of 25 he received US$ 45 million from his father to start his own company. easyJet founder Sir Stelios Haji-Ioannou has threatened to sell his 37pc family stake in the airline if directors persist with an order for new aircraft, reigniting a row over the company's. It was claimed to possess improved fuel efficiency over contemporary airliners. Samuels warns that in this case those speaking out might well fall in between cracks in the current law, and easyJet would be well within their rights to protect their organization and prosecute those that go after bounty. The law backs him up whistleblowing for personal gainlike making profitis detailed in the current U.K. law (Public Interest Disclosure Act 1998). But at age just 28, he switched his career path from ships to aviation, launching the low-cost behemoth we now know as easyJet. According to the Panama Papers, financial and legal documents leaked in 2016, Bonnant was a director of at least 176 of the off-shore shell corporations registered through Panamanian law firm Mossack Fonseca. When you purchase through links on our site, we may earn commission. She added that the A321neos would help to cut costs by 9 per cent. Sir Stelios Haji-Ioannou (Greek: , romanized:Stelios Hatziioannou; born 14 February 1967) is a Greek Cypriot entrepreneur. 2nd November 2020 Stelios stands firm on easyJet Airbus "strawmen" dispute after court ruling. Low-fare carrier founder is at odds with airline management - and conventional wisdom The organisation has eight brand values, including relentless innovation, great value and taking on the big boys. EasyJets position has been strengthened in the last week after BA's plan to launch a new short-haul airline at Gatwick were scuppered by its pilots voting down the proposals. In terms of passenger numbers, easyJet is the second largest low-cost airline, behind Ryanair.
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