By Alex Trelinski • 27 April 2020 • 14:32
BUDGET airline easyJet is facing a warning that it could go bust, as flights to Spain’s Costa del Sol and Costa Blanca remain grounded.
As the budget carrier has no services to offer, the focus for easyJet has switched to a massive battle to oust the company’s chairman John Barton and chief executive Johan Lundgren.
The shareholder move is being spearheaded by easyJet founder Sir Stelios Haji-Ioannou over the company ordering a new fleet of aircraft from Airbus.
The cost of the order is £4.5 billion, and Haji-Ioannou claims that it will bankrupt easyJet, especially with what’s happening over the coronavirus crisis.
He’s the largest shareholder in the company and the showdown vote will take place at a meeting on May 22.
Sir Stelios described the current easyJet bosses as “scoundrels.”
Not surprisingly, the company wants shareholders to vote against his resolution, and they said that any changes would be damaging.
John Barton said: “This is not in the best interests of the company or its shareholders as a whole.”
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