August according to Stelios if they don't get rid of the Airbus order.
https://www.independent.co.uk/travel...-a9448746.html

Probably later then, as he certainly isn’t going to err on the side of caution when trying to prove his point!

How many are actually due before August? AB are already running late due to lack of engines, a couple are sitting at the factory engineless and were before COVID-19 grounded the fleet. EZY, just like any airline currently will say leave it at XFW for now and thus do not have to pay for it. Can you really see AB saying no?

True but it's not exactly a statement that'll help with consumer confidence when the airline needs as much cash as possible.

Am I right that the other Easy companies belong entirely to Stelios, and are any of them profitable in normal times. Or is he dependant of dividends from Easy to keep the others afloat?

EasyHotels must be struggling now!

Hotels typically pay a 20 year franchise fee. The hotels are independently owned

Without any insider financing info, I would suggest longer than most!

And which Govt?

Not true. As someone that owns franchise rights to eH for a particular region... let me assure you most of their hotels are directly owned and operated.

Readers will be interested in the following

Covid Corporate Financing Facility & RCF drawdown

It's certainly demonstrating that they're exhausting every avenue, as the GOV has asked.

JSCL

The CCFF is the government - it's a state fund run by the Bank of England.

https://www.bankofengland.co.uk/news...ncing-facility

I’m fully aware, but it isn’t a an airline bailout and is fully commercial and only for those with exceptional credit ratings by the major agencies, that’s how commercial paper works. I’m not sure if the BoE scheme offers them interest but commercial paper issuances generally would. The RCF too is pure debt.

This is 100% demonstrating every avenue other than a bailout of any description.

Another day and Sir Stelios continues along the warpath against the rest of the board, now threatening legal action if they continue to pay Airbus whilst defaulting on other obligations...

https://www.edinburghnews.scotsman.c...ounded-2533129

He’s a monster to work with. This is why entrepreneurs need to move on. He founded so many easy companies, all of which failed with the exception of easyJet which he sold off and got in a proper management team to run. It’s not his own personal plaything anymore. He continues to behave like a giant hairy baby, it’s sub optimal for sure.

Perhaps he is bored as he cannot swan around the Med in a yacht as everything is closed! :ooh:

Whilst you’re not wrong in what you’re saying, because he is a complete pain in the rear and like a dog with a bone, I do think he is correct with the major issue regarding aircraft orders.

The current fleet they’ve got will definitely see them through for the foreseeable future and the sensible, and moral, thing to do would be to cancel the majority, if not all, of this order. The credit facility they’ve gained will need to be paid back and should be their priority. They can and should be working to reduce their order, defer it or whatever else is required. It seems fair to assume they should be focusing on staying in business..

It might well be that someone else comes along and says there is clear logic for maintaining their order with Airbus whilst struggling with their other financial obligations but I cannot see a strong case.

I too think he has a point with respect to splashing out on new planes. Hardly anyone is booking (or I'm assuming that's the case - I for one am not booking anything for anywhere until things improve) and the immediate, short-term focus should be on survival. Some of the aircraft in the fleet at the moment are close to 15 years old, but unless they're already due to go to another airline such as United who are due to take on some of the A319's, then easyJet ought to consider holding on to them or withdrawing them in proportion to any permanent network reductions in response. The collapse in oil price could help the economics of operating older aircraft, though another factor is whether some of the older/oldest aircraft are due heavy checks soon?

Like I said last week, the best Sir Stelios can probably hope for is deferral. Airbus (and Boeing) are no doubt bracing themselves for airlines wanting deferrals, cancellations, order revisions etc., so I wouldn't expect talks to be easy.

Can easyJet simply walk away from the contract without penalties as Stelios insinuates? From what I gather, we are talking about orders, not options or purchase rights.