easyjet board for rough ride
An Extraordinary General Meeting is to be held by the easy board on 12 March. The purpose of the EGM is to convince shareholders to back the management endorsed decision to buy 120 airbus aircraft.
In the light of recent developments, I wonder if the board is in for a shock? Traditionally, when an airline reports a fall in bookings , the decision is made to reduce capacity, not increase it. So, with the share price now hovering just above the excercise price , a reduction in bookings, Ryanair unable to give away seats in a recent promotion, Gulf war looming, oil price rising with no hedging, why on earth does the easy board recommend a buy decision on airbus?The chief training captain has allegedly resigned his post , rumour has it, because airbus is not workable!The company are already having trouble just running two types of 737!!
If the share price hits 1.61( exercise price) RW will have to go