BTB.
Over 2 years ago Stelios announced, in a UK interview when discussing all his new ventures, that he had put a management in place at easyjet and thus would let them manage. He had more things on his mind and his hands were full. He was distancing himself!
I remind you that ej was a recommended buy last February, and it was already a hot rumour that Stelios would hand over in the near future. It might be argued that far from being safe hands, he has been fully aware of what was going on within, and allowed it to continue.
I just hope the new Chairman does not arrive with eyes wide shut, and is ready to get his backside burnt in the hot seat.
As for the rights issue, there is no way that it can be held accountable for the recent performance. That would have taken effect over the few weeks after the event. If you notice the share did dip, at one time down to 240, but then rose to 350 or so. Thus the recovery was well after the rights issue. The present slide is totally removed from that event, as the atumn rally showed.
I wonder if the GO purchase falters, or takes longer to bear fruit, will any of the bonus be refundable. Perhaps some of the beneficiaries will have moved on and be out of reach?