Easyjet - 3
Join Date: Nov 2006
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Bristol / Toulouse
macuser
what do you mean does it really matter? I simply asked which one was it if anybody knew, as I am entitled to do and I get a smart answer back saying I really should relax...maybe you should relax, if a post such as mine affects you so much maybe you should not reply. This is what fascinates me about this forum, there are so many members who dive in with juvenile comments that are unnecessary. The majority of people on here know what the difference is between a 737 and a 319, so thanks for the update. I personally prefer a 737.
Does it really matter? Airbus a bit more roomy, 737 the workhorse. Over that limited length of flight, you really should relax...
Join Date: Aug 2006
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Businesses wasting money on ‘sweetheart’ deals with airlines
Easyjet is cheaper than alternative carriers on the busiest European routes the majority of the time, according to a new poll.
The survey found the budget carrier was less expensive 79% of the time and that companies save over £100 on at least 35% of journeys.
But it also found that companies are ignoring their own rules and are wasting money by only booking Easyjet for 10% of journeys.
According to previous research, more than a third of companies adopt a “lowest logical fare” policy for European short haul travel. Therefore, it is clear that these policies are not being enforced fully, the airline claimed.
Easyjet commissioned ITM Research to conduct the independent price comparison study of business travellers.
(...)
The study was conducted on a random sample of 300 booked itineraries over a three month period between June and August and covered a basket of return fares across 22 European and UK routes from London.
The analysis included any negotiated fares with traditional airlines compared with the base Easyjet price plus speedy boarding and applicable fees and taxes.
The research also showed that when it came to UK domestic travel, the frequency of Easyjet schedules meant that on 90% of occasions it was shown to offer a cheaper alternative itinerary to the flight booked.
The airline’s UK regional general manager David Osborne said: “Once again easyJet debunks the myth that special sweetheart deals negotiated with the legacy airlines provide value for money – they don’t.
More details on travelmole.com
The survey found the budget carrier was less expensive 79% of the time and that companies save over £100 on at least 35% of journeys.
But it also found that companies are ignoring their own rules and are wasting money by only booking Easyjet for 10% of journeys.
According to previous research, more than a third of companies adopt a “lowest logical fare” policy for European short haul travel. Therefore, it is clear that these policies are not being enforced fully, the airline claimed.
Easyjet commissioned ITM Research to conduct the independent price comparison study of business travellers.
(...)
The study was conducted on a random sample of 300 booked itineraries over a three month period between June and August and covered a basket of return fares across 22 European and UK routes from London.
The analysis included any negotiated fares with traditional airlines compared with the base Easyjet price plus speedy boarding and applicable fees and taxes.
The research also showed that when it came to UK domestic travel, the frequency of Easyjet schedules meant that on 90% of occasions it was shown to offer a cheaper alternative itinerary to the flight booked.
The airline’s UK regional general manager David Osborne said: “Once again easyJet debunks the myth that special sweetheart deals negotiated with the legacy airlines provide value for money – they don’t.
Join Date: May 2008
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Board bust up at Easyjet ?
Reported today.
By John Bowker LONDON, Nov 14 (Reuters) - EasyJet (LSE: EZJ.L - news) founder Stelios Haji-Ioannou raised his stake in the British
low-cost airline and sought to appoint two new directors as he pressured the company's board to adopt a more cautious business strategy.
The carrier said on Friday that Stelios had increased his shareholding by around 11 percent and wanted the company to reduce an order for new planes and start paying a dividend in response to a growth slowdown caused by the worsening economic climate.
'I am merely applying my rights ... to protect my investment in easyJet,' Stelios responded in a statement, while a spokeswoman declined to comment further.
EasyJet chairman Colin Chandler said in a statement he supported the management team's current strategy, although the board was discussing the future strategic direction of the company.
Stelios had transferred shares owned by his sister to his holding company easyGroup, increasing his stake to 26.9 percent from 15.6 percent.
His brother Polys owns a further 11.3 percent through investment firm Polys Holdings, according to Reuters data.
EasyJet said Stelios now wanted the airline to scale back its 315-aircraft order with manufacturer Airbus (Paris: NL0000235190 - news) and start to make dividend payments. EasyJet has never paid a dividend in its eight-year history as a quoted company.
RIGHT TO BE CHAIRMAN
EasyJet said Stelios wanted two new non-executive directors to be appointed at the company, and reserved the right to appoint himself as chairman if the move was blocked.
It added that the proposed new directors were both employees of easyGroup.
'In all the circumstances I would like to make it clear up front that the other non-executive directors and I fully support the executive management of the company.' Chandler said.
Stelios, 41, floated easyJet on the stock-market in November 2000, but remained chairman until 2002. He stepped down from the board for around three years, but in 2005 took on a non-executive director role that he still holds.
Shares in the firm, which reports its full-year results on Tuesday, were down 3.1 percent at 271.25 pence by 1430 GMT, valuing the company at close to 1.1 billion pounds ($1.63 billion).
The shares have more than halved in price since the beginning of the year, costing Stelios a paper loss of about 170 million pounds, but are down just 3 percent in the past six months.
Douglas McNeill, airline analyst at stockbrokers Blue Oar (LSE: BLUE.L - news) , said the market was still mulling how to read the comments.
'On the one hand you have conflict at board level, which is undesirable. But there is also the prospect of a change of strategy and the distribution of cash,' he said.
'The rapid rate of expansion that has been planned requires a huge amount of cash to be spent on new planes. Stelios clearly thinks that cash could be better used elsewhere.'
EasyJet told analysts at a presentation in September it expected cash at Sept. 30 to be around 900 million pounds. It has a total order for 315 aircraft from Airbus, of which 120 have already been delivered.
Its current fleet is 165 aircraft. It said in the presentation the figure would be 200 by 2011, although a group spokesman said the number was under review.
Stelios now holds close to the 29.9 percent of the company that would trigger a takeover bid, although his full plans are as yet unclear.
By John Bowker LONDON, Nov 14 (Reuters) - EasyJet (LSE: EZJ.L - news) founder Stelios Haji-Ioannou raised his stake in the British
(Advertisement)
The carrier said on Friday that Stelios had increased his shareholding by around 11 percent and wanted the company to reduce an order for new planes and start paying a dividend in response to a growth slowdown caused by the worsening economic climate.
'I am merely applying my rights ... to protect my investment in easyJet,' Stelios responded in a statement, while a spokeswoman declined to comment further.
EasyJet chairman Colin Chandler said in a statement he supported the management team's current strategy, although the board was discussing the future strategic direction of the company.
Stelios had transferred shares owned by his sister to his holding company easyGroup, increasing his stake to 26.9 percent from 15.6 percent.
His brother Polys owns a further 11.3 percent through investment firm Polys Holdings, according to Reuters data.
EasyJet said Stelios now wanted the airline to scale back its 315-aircraft order with manufacturer Airbus (Paris: NL0000235190 - news) and start to make dividend payments. EasyJet has never paid a dividend in its eight-year history as a quoted company.
RIGHT TO BE CHAIRMAN
EasyJet said Stelios wanted two new non-executive directors to be appointed at the company, and reserved the right to appoint himself as chairman if the move was blocked.
It added that the proposed new directors were both employees of easyGroup.
'In all the circumstances I would like to make it clear up front that the other non-executive directors and I fully support the executive management of the company.' Chandler said.
Stelios, 41, floated easyJet on the stock-market in November 2000, but remained chairman until 2002. He stepped down from the board for around three years, but in 2005 took on a non-executive director role that he still holds.
Shares in the firm, which reports its full-year results on Tuesday, were down 3.1 percent at 271.25 pence by 1430 GMT, valuing the company at close to 1.1 billion pounds ($1.63 billion).
The shares have more than halved in price since the beginning of the year, costing Stelios a paper loss of about 170 million pounds, but are down just 3 percent in the past six months.
Douglas McNeill, airline analyst at stockbrokers Blue Oar (LSE: BLUE.L - news) , said the market was still mulling how to read the comments.
'On the one hand you have conflict at board level, which is undesirable. But there is also the prospect of a change of strategy and the distribution of cash,' he said.
'The rapid rate of expansion that has been planned requires a huge amount of cash to be spent on new planes. Stelios clearly thinks that cash could be better used elsewhere.'
EasyJet told analysts at a presentation in September it expected cash at Sept. 30 to be around 900 million pounds. It has a total order for 315 aircraft from Airbus, of which 120 have already been delivered.
Its current fleet is 165 aircraft. It said in the presentation the figure would be 200 by 2011, although a group spokesman said the number was under review.
Stelios now holds close to the 29.9 percent of the company that would trigger a takeover bid, although his full plans are as yet unclear.
Join Date: Jun 2001
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A row between board members at easyJet has been made public with the confirmation of an email sent to the board from Stelios.
It appears that Stelios is not happy that the airline is breaking out into too many other areas in this time of falling confidence in the worlds finances.
So much so that his sister has transferred her shares over to him and he now owns 27%, up from 15%, in the business.
Stelios wants to appoint two new representatives to the board or to bring himself back as chairman.
It appears that Stelios is not happy that the airline is breaking out into too many other areas in this time of falling confidence in the worlds finances.
So much so that his sister has transferred her shares over to him and he now owns 27%, up from 15%, in the business.
Stelios wants to appoint two new representatives to the board or to bring himself back as chairman.
Whats happening at Easyjet ?
Stelios taking his holding to 26%.
Requiring 2 nominated directors be appointed or else he appoints himself Chairman.
Restricting the already scaled back growth plans, stop buying aircraft and indicating that he wished that Dividends be paid instead of growth.
It seems that Stelios is a bit unhappy about what is occurring which probably indicates a desire to run the company again or take it private.
Requiring 2 nominated directors be appointed or else he appoints himself Chairman.
Restricting the already scaled back growth plans, stop buying aircraft and indicating that he wished that Dividends be paid instead of growth.
It seems that Stelios is a bit unhappy about what is occurring which probably indicates a desire to run the company again or take it private.
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Sounds to me Stellios is eager for the company to be cautious in this challenging time, protecting the empire he has built, his legacy.
Forcing them to pay dividend IF MARKET ALLOWS means reserve cash just in case, same with the delays on plane purchases.
Wise man as far as I'm concerned, perhaps unhappy about risk taking by the current board which may be more concerned about short term bonusses than the long term health of his creation....
Forcing them to pay dividend IF MARKET ALLOWS means reserve cash just in case, same with the delays on plane purchases.
Wise man as far as I'm concerned, perhaps unhappy about risk taking by the current board which may be more concerned about short term bonusses than the long term health of his creation....
The founding family own nearly 40% of the shares which must give them some say. Obviously differences have been building up over time. History will tell if Stelios is right. But I would be amazed if he does not get what he wants. Given the current economic climate I can see his point.
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And his brother owns another 11%, so that would give him about 38% share in easy if he also took over those shares as well, that would allow him to take the company private.
Could be interesting times ahead with Stelios back in the lead.
Could be interesting times ahead with Stelios back in the lead.
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Sounds to me Stellios is eager for the company to be cautious in this challenging time, protecting the empire he has built, his legacy.