Stelios wants a fleet reduction and cash returned to shareholders (he holds 38% of the shares IIRC)
A small fleet reduction could make the airline more profitable and need a lot less capital. Easyjet is looking at running on 204 planes. Not all routes will make the same profit and some will be marginal. As the oil price is likely to be high for some time (unless we have a global melt down) it would be wiser to run with 170-190 planes. Then the firm does not need to pay for 14-34 planes.