Easyjet in danger of losing name
Sunday, 07 Jun, 2010
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This week sees the start of a High Court battle between Easyjet senior management and the airline’s founder Stelio Haji-Ioannou over ancillary revenue limits.
Sir Stelios, who owns 38% of Easyjet’s shares, resigned from the board last month and has registered his distaste for outgoing chief executive Andy Harrison as well as the board’s desire to spend money on aircraft instead of giving shareholders a dividend.
He believes the airline is now receiving more than a quarter of income from ancillary areas which falls foul of an agreement drawn up between the two parties. The two sides will battle it out on Thursday in court.
In an interesting twist, this weekend it emerged that the entrepreneur now wants to set up an online travel agency using the Easyjet name.
Currently he licenses the name to the airline for £1 a year. A worse-case scenario for Easyjet is that it would have to rebrand.
by Dinah Hatch
Dinah
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