How did easy jet start?

[KBaB]

Im doing a project on Easy jet and need to talk about finance within the airline. I have profit figures, but anyone any idea how Stelios could afford to by 737’s in the first place?

Thanks
KBaB

[Pdub]

I think daddy might have had something to do with it.

If not with actual cash, then guarantees. Od course I could be wrong

[flugpants]

For the first year Stelios wet-leased 2 x B737-200`s. Once the cash was coming in he had had the time to negotiate dry leases, set up an AOC and recruit the necessary staff to have his own airline set-up.
At the time he was only flying to GLA and EDI.
Hope that helps you.

[cossack]

Try http://www.stelios.com/
He's made it so "easy" to find out all about him!

[aerostude]

I believe Stelios studied at the London School of Economics and did a project into the american airline Southwest and thought "I can do that". With his financial background (father a shipping magnate) and contacts he was able to get going and the rest as they say is history.

Hope this helps

[KBaB]

cool. thanks for that!

KBaB

[touch&go]

There was an article in the Daily Telegraph about 5 months ago all about his business career,you many be able to search there web site.

It said that his father loaned him £5 million to start the airline and the another £50 million soon after. It makes sence to sourse the money from family and not the volatile banking industry.

[This message has been edited by touch&go (edited 30 March 2001).]