Former Billionaire Stelios Turns Whistleblowing Into Bounty - Forbes The Ryanair LCC he runs could place further aircraft orders during the downturn. [49] One main difference EasyJet and Ryanair have from Southwest is they both fly a young fleet of aircraft. "The total European package holidays market is worth around 61bn per year we know customers want holidays with various durations and not the traditional seven and 14 nights. Stelios Haji-Ioannou was born in Athens on 14 February 1967, the second of three children of Nedi (ne Potsos) and Loucas Haji-Ioannou. The disposal, which takes Sir Stelios's stake down to just under 33%, comes three weeks after the tycoon lost a bid to oust four easyJet board members.. EasyJet - Wikipedia By He stated at the time that this appointment did not reflect his political affiliations, adding, "I agreed to be included in the group of entrepreneurs because I was assured it will be non-partisan. She was delivered to her original owner in 2004. [18][19], In 1995, EasyJet was established by Stelios, being the first company in what would later become the easyGroup conglomerate. It urged travellers to cut out the travel agent. [20] Within its first year, easyJet reportedly carried approximately 40,000 passengers. As is acknowledged on all sides, it was grave, describing the bribery as endemic in two core business areas within Airbus.. [115][116][117], EasyJet does not provide complimentary meals or drinks on its flights (except for some occasional charter flights operated by the airline). [22][102] Since then, all orders have been from the Airbus A320 family, and the Boeings have been phased out. Some 93pc of shareholders backed the 1.2bn rights issue, put in place to pay down debt and capitalise on the problems facing "legacy" carriers such as British Airways. Haji-Ioannou started easyJet in 1995 when he was 28 years old, running a service between Luton and Scotland. In an interview with Management Today, he said: 'EasyJet is seen as a huge success, which I'm happy about, because I own the brand. According to the Panama Papers, financial and legal documents leaked in 2016, Bonnant was a director of at least 176 of the off-shore shell corporations registered through Panamanian law firm Mossack Fonseca. ", "EasyJet paint job makes fuel bills less of a drag", "EasyJet looks to AI to cut delays and deliver its bacon butties", "easyjet will launch first electric plane in 2019", "EasyJet makes progress with electric aircraft plan", "EasyJet to offset carbon emissions from all its flights", "Sustainable flights, easyJet and Airbus work on zero-emission aircraft | SmartGreen Post | news from the environment", "EasyJet urges new tax to replace air passenger duty as part of green push", "EasyJet ads criticised over green claims", "EasyJet discriminatory wheelchair policy", "EasyJet accused of discriminating against disabled passengers", "EasyJet loses disability discrimination case in France", "French court fines easyJet over refusal to let disabled passenger board", "EasyJet threatens not to let passenger board after he criticises airline on Twitter", "Passenger sues easyJet after crew told her to move seats to satisfy ultra-Orthodox Jews", "EasyJet Europe nimmt Betrieb mit sterreichischem AOC und Betreiberbewilligung auf", "EasyJet confirmed as UK airline, despite EU ownership", "Report on the serious incident to Airbus A319-111, registration G-EZAC near Nantes, France on 15 September 2006", "Transaero Airlines and EasyJet Sign Commercial Agreement Press Statement", "Transaero to Cease Operations October 26", "EasyJet to Halt Moscow Flights on Slumping Demand", "easyJet (Group) Fleet Details and History", "Pictures: EasyJet's first A321neo makes Farnborough debut", "Snub for Boeing as Airbus lands EasyJet deal", "EasyJet's losses widen on sterling weakness", "easyJet takes delivery of first A321neo", "EasyJet orders 12 more Airbus A320neo aircraft", "easyJet confirms order for a further 56 A320neo Family aircraft | Airbus", "easyJet Firms Order For 56 Airbus A320neo And Upsizes 18 To A321neo", "Q&A with easyGroup's Stelios Haji-Iaonnou", "EasyJet wins reservation system copyright case", "EasyJet Boosts Order For Airbus A319s By 52 Aircraft", "EasyJet launches EasyJetHotels with Hotelopia as its new exclusive accommodation partner", "The death of traditional, inflexible package holidays EasyJetHolidays gives total flexibility of hotel and low-cost flight combinations", "Financial Protection for package holidays booked with EasyJet", "EasyJet relaunches package holiday business", Airlines of the United Kingdom and Channel Islands, List of defunct airlines of the United Kingdom, BlackRock Greater Europe Investment Trust, Henderson Smaller Companies Investment Trust, JPMorgan Emerging Markets Investment Trust, North Atlantic Smaller Companies Investment Trust, Sequoia Economic Infrastructure Income Fund, Templeton Emerging Markets Investment Trust, https://en.wikipedia.org/w/index.php?title=EasyJet&oldid=1161712749, Companies listed on the London Stock Exchange, Short description is different from Wikidata, Articles containing potentially dated statements from April 2023, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 4.0, Older aircraft are to be retired and replaced by A320neos, In the Airbus Cabin Flex (ACF) configuration, Both aircraft (G-BECG/G-BECH) were transferred to, This page was last edited on 24 June 2023, at 15:17. He lives in Monaco.At the age of 25 he received US$ 45 million from his father to start his own company. [77] In separate incidents in 2012, paralympians received similar treatment,[78] and a French court found the airline guilty of three counts of disability discrimination. The airline came to prominence when Sir Stelios and his staff starred in the second series of fly-on-the-wall series Airline in 1998. easyJet was later floated on the London Stock Exchange, but the tycoon retained around a third of the business until relatively recently. A smaller EasyJet helps another. [106], On 19 November 2019 EasyJet ordered an additional 12 A320neo, taking the total neo orders, including the A321neo, to 159. Which adds up to a handy pay-cheque for the founder. The business tycoon has called. He was later awarded four honorary doctorates from Bayes Business School,[2] Liverpool John Moores University, Newcastle Business School,[3] and Cranfield University.[4]. Putting in a bounty to dig up dirt that might help them get out of a contract is not the way to negotiate., A spokesman for Sir Stelios Haji-Ioannou told Forbes, [Airbus] is a seriously corrupt company whose additional past illegal practices need to be more fully investigated, pointing to a High Court case in London that concluded in January this year, where, he adds, Airbus paid, a series of record-breaking settlements including nearly 1bn to the U.K.'s fraud office after it admitted to endemic levels of bribery across its international business activities., In court documents relating to the case, Dame Victoria Sharp, the President of the Queens Bench Division, ruled, The seriousness of the criminality in this case hardly needs to be spelled out. Your IP: For a full comparison of Standard and Premium Digital, click here. Stelios als owns a residence on the island of St Barthelemy. [36], In July 2017, EasyJet announced it would open a new European headquarters in Austria to enable it to operate after Brexit. The figures used were not based on emissions produced by an EasyJet aircraft or emissions produced by the airline overall as the advertisement implied, and ASA declared that the airline had broken advertising rules. Easyjet considering legal action against Stelios | This is Money Her cruising speed is 13 knots. Easyjet shares fell 4.7 per cent in trading . Stelios loses his grip on easyJet after 26 years - The Telegraph Please do send us a message. For other uses, see, Frequent flyer, business travel and loyalty products, Passengers = Earned seats flown, including "no-shows" (empty paid seats), promotional seats and those provided to staff for business travel, for both EasyJet UK and, Airbus Orders and Deliveries (XLS), accessed via, United Kingdom Advertising Standards Authority, "Risky business: Why the unpronounceable will achieve the improbable in Britain", "ITV commissions ground-breaking documentary following easyJet's rookie pilots from ITN Productions", "EasyJet grounds entire fleet of planes due to virus", "EasyJet confirms axing of three UK bases", "Ryanair and Easyjet: The history of the peanut airlines", "EasyJet at 20: the low-cost airline, then and now", "Challenges on the horizon as easyJet turns 20", "UK's easyJet expands services under Air Foyle AOC", "FL Group's sale of EasyJet holding puts an end to months of takeover speculation", "CFO Chris Kennedy Pilots EasyJet, Lands on FTSE 100 CFO Insight", "Circular regarding proposed acquisition of Go", "From Bland to orange: GB Airways acquisition will make easyJet #1 at Gatwick", "EasyJet plc agrees to acquire GB Airways Limited", "Regulator clears easyJet's GB Airways acquisition", "EasyJet to become North West's largest airline", "EasyJet to set up Austrian HQ to operate EU flights after Brexit", "easyJet clinches parts of Air Berlin for German expansion", "EasyJet Grounds Entire Fleet, Furloughs Crew After Finishing Rescue Flights", "Transport secretary promised EasyJet not to levy green taxes | Business", "EasyJet to resume flights across most European routes by August", "Sir Stelios fails in his bid to get the board sacked at easyJet", "EasyJet reveals cyber-attack exposed 9m customers' details", "EasyJet rejects takeover approach from rival Wizz Air", "After 26 Years, Sir Stelios Loses Control of EasyJet", "A History of easyJet - from 2 routes to European giant", "EasyJet will soon be bigger than Ryanair", "EasyJet to launch allocated seats on all flights", "EasyJet raises further 600m as Covid-19 disruption continues", "EasyJet scales back flying capacity due to lockdowns", "EasyJet slumps to first annual loss amid pandemic", "New headquarters for EasyJet at London Luton Airport", "EasyJet unveils low-emission 'EcoJet' aircraft", "Can easyJet short circuit electric airliner flight? [43], On 17 August 2020, EasyJet confirmed in a statement they would be closing three bases in the UK. He lives in Monaco. The airline started operations on 29 November 2012 with Airbus A319 aircraft. This is not fair and we will not accept it. The Climate Crisis And The Need To Reimagine Global Institutions, Former Billionaire Stelios Turns Whistleblowing Into Bounty Hunting For Angry Shareholders, Does Virgin Atlantic Pay U.K. Tax? [51], Initially, EasyJet's employment strategy was to maintain control with minimal union involvement. Samuels warns that the big risk here is the further damage to people's perceptions. We are no longer accepting comments on this article. [29], On 25 October 2007, EasyJet purchased the entire share capital of GB Airways from the Bland Group. [11][32][33][34][35], In June 2011, the airline opened its eleventh British base at London Southend Airport, offering flights to Alicante, Amsterdam, Barcelona, Belfast, Faro, Mlaga, Jersey, Palma de Mallorca and Ibiza. He adds, This reads very much as being in Stelios interest.. Any unexplained wealth and or any ostentatious spending by easyJet employees could also give us a hint.. Stelios owns an estimated 4% of the airline; his siblings Clelia and Polys both have large stakes as well. The yacht was built as Bushido at Bod Yat in Turkey. Sir Stelios Haji-Ioannou ( Greek: , romanized : Stelios Hatziioannou; born 14 February 1967) is a Greek Cypriot entrepreneur. [61][62] Speaking at the time, EasyJet chief executive Andy Harrison commented that: "We have not developed a new concept. Entrepreneur Stelios Haji-Ioannou launched easyPizza in Milton Keynes in 2004, Sleep talk: Stelios opens the first easyHotel in Kensington, London, Captain's quarters: Stelios on the first voyage of easyCruiseOne, All go: check-in at Stansted airport shortly after easyJet took over its no-frills rival, Pound land: the easyCoffee outlet in Leicester Square, Go easy: Stelios and Go CEO Barbara Cassani on the first Go flight, Going Greek: inside the cabin of an easyJet flight to Athens, easy does it: an easyJet aircraft at Stansted, Maiden flight: easyJet's first departure from Luton to Glasgow, November 1995, Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in. [16] They later closed three of their bases. This was an instant success as many people around the world are interested in, or curious about, these multi-million dollar yachts and their wealthy owners. rights issue following a takeover swoop by low-cost rival Wizz Air. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. [123], On 14 December 2004, EasyJet and Hotelopia, a subsidiary of First Choice Holidays, launched the co-branded EasyJetHotels accommodation booking service. [16], Haji-Ioannou has lived in Monaco since his family moved there when he was a teenager.[17]. The founder and his family still own 37% of easyJet so the chances of him setting up a rival airline slightly less than zero Photo by Eamonn M. McCormack/Getty Images. Like Air France-KLM, which, however, has an advance ticket. Low-fare carrier founder is at odds with airline management - and conventional wisdom Premium access for businesses and educational institutions. [56], EasyJet's early marketing slogan was "making flying as affordable as a pair of jeans". These are Flexi Fare, EasyJet Plus and a new frequent traveller loyalty programme called Flight Club. Cloudflare Ray ID: 7de7088efb5f2f59 [59] The airline has used a number of slogans since its establishment, including "The Web's Favourite Airline", "Come on, let's fly" and "To Fly, To Save" (a parody of British Airways' slogan "To Fly, To Serve"). Ryanairs fleet is 41% larger than EasyJet, but could be twice as big in the medium-term, based on its last formal growth plan. '[14], In 2013, Haji-Ioannou said he had become "increasingly concerned" at easyJet's expansion plans. Entrepreneur Stelios Haji-Ioannou was making a pretty penny in the shipping industry in his early post-graduate days. It has a fleet of 260 aircraft and transports more than 75,000,000 passengers per year. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Previously EasyJet had only operated from Berlin-Schnefeld Airport and Berlin-Tegel Airport, where EasyJet had taken over some of Air Berlin's old services. The new airline is headquartered in Vienna and will allow EasyJet to continue operating flights across and within European countries after the UK leaves the EU. EasyJet Plus is an annual subscription product targeted at frequent flyers,[122] both business and leisure. [114], The airline's main fleet, comprising Airbus A319, A320/A320neo and A321neo aircraft, carry up to 156, 180/186 and 235 passengers respectively, depending on layout. [26], In March 2013, EasyJet was promoted to the FTSE 100; during the same month, the company launched its 100th route from Gatwick Airport, offering flights directly from London to Moscow. In 2019 Stelios donated US$ 10 million to his fund.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'superyachtfan_com-medrectangle-4','ezslot_7',696,'0','0'])};__ez_fad_position('div-gpt-ad-superyachtfan_com-medrectangle-4-0'); Sir Stelios also signed theGiving Pledge, a commitment by the worlds wealthiest individuals to dedicate the majority of their wealth to giving back. In 2005, Stelmar Shipping was sold to the OSG Group for approximately $1.3 billion. Liverpool's Anglican Cathedral, where he received an honorary fellowship from Liverpool's John Moore's University. Through easyGroup, Stelios has licensed the easy name to such businesses as easyHotel, easyCar and easyCoffee. He tells Forbes, I think that the term whistleblower is absolutely wrong on this front. Samuels, adds, A whistleblower is broadly defined as somebody [who] raises a concern based upon public interest not somebody that goes bounty hunting to help shareholders., On the issue of public interest, Samuels warns that it can often be subjective as to whats actually in the public interest. View PDF version From: Sir Stelios Haji-Ioannou To: Non-executive directors of easyJet PLC Date: 29 March 2020 Airbus have not commented on the allegations made by Sir Stelios Haji-Ioannou. Alternatively, customers can book accommodation separately at the EasyJetHotels website. EasyJet's chief executive has hit out at a "highly undesirable" intervention by its founder and largest shareholder, Stelios Haji-Ioannou, as the airline called a general meeting in the . After 26 Years, Sir Stelios Loses Control of EasyJet - GreekReporter.com He founded Stelmar Shipping based in Athens in 1992. But easyJet is a publicly listed company. Haji-Ioannou's reply was: "The Internet is for nerds, it will never make money for my business!" In April 1991, a Troodos-owned VLCC oil tanker suffered a disaster that resulted in six deaths and spilt about 50,000 tons of crude oil into the sea, becoming arguably the Mediterranean's worst-ever ecological disaster. She is built to RINA standard and has zero speed stabilizers. The president of easyJet, Johan Lundgren, declared in an interview with the JDD: When we see the amounts of aid granted to some, there are concerns of a distortion of competition. Along the way, easyJet took on and then swallowed up BAs first attempt to set up a low-cost rival, Go; the first Go flight was subject to a publicity hijack by Stelios leading a party of easyJet staff in orange boiler suits. Aside from being the heir of a wealthy, ship-owning family, Stelios Haji-Ioannou is still best known for founding EasyJet, a low-cost airline, as well as the Stelmar shipping line. This was an instant success as many people around the world are interested in, or curious about, these multi-million dollar yachts and their wealthy owners. [19], The character of Omar Baba in the BBC comedy series Come Fly With Me is reportedly based on Haji-Ioannou. Do you know more about this yacht? For comparison, the company achieved 7,400 million in turnover and 400 million in net profit in the previous financial year. In the 2006 Birthday Honours, Haji-Ioannou received a knighthood from Queen Elizabeth II for "services to entrepreneurship". On the cheapie to Athens, thats just 16p, but if 200,000 people are spending the same each day it adds up to a useful 32,000 daily cheque for licensing the brand. The key points of this business model are high aircraft utilisation, quick turnaround times, charging for extras (such as priority boarding, holding baggage, and food) and keeping operating costs low. Stelios is also the owner of the 37-meter sailing yacht Strangers In The Night. [18] EasyJet initially operated a pair of wet leased Boeing 737-200 aircraft, capable of seating 130 passengers. Easy does it, Stelios | News | Flight Global Subsequent civil demands for compensation were also dismissed by the courts.[6][7]. Its original advertising consisted of little more than the airline's telephone booking number painted in bright orange on the side of its aircraft. Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in. [9] It employs circa 13,000 people, based throughout Europe but mainly in the UK. Sir Stelios declined to comment on the dilution of his stake in easyJet. STELIOS HAJI IOANNOU - Net Worth $1.2 billion - Owner of the yacht Fly Me To The Moon Who is Stelios Haji- Ioannou? EasyJets troubles with the airlines founder, Stelios Haji-Ioannou, have gone from bad to worse, with insinuations that the airlines top management has accepted bribes for ordering Airbus planes. Stelios and his family still control the largest stake in the airline, and every time someone buys a flight on easyJet he collects one-quarter of one per cent of the fare. Number of home sellers accepting bigger discounts increases almost THREEFOLD in the past year, as property MARKET REPORT: Economic turmoil in Nigeria takes the shine off St Tropez and Imperial Leather owner PZ Cussons. The yacht is designed by H2 Yacht Design, who is also responsible for her interior. It has a fleet of 260 aircraft and transports more than 75,000,000 passengers per year. He owns a large penthouse the Principality of Monaco. We do not write articles to promote products. The EasyJet founder Sir Stelios Haji-Ioannou has lost his hold on the budget airline he started a quarter of a century ago after raising the company 1.2bn of The EasyJet founder Sir Stelios Haji-Ioannou has lost his hold on the budget airline he started a quarter of a century ago after raising the company 1.2bn of Which will take the typical wage-earner just four hours to afford. With the acquisition of GB Airways in 2007, easyJet inherited nine Airbus A320 and six Airbus A321 aircraft. How rocketing rates could cost your family 1,000s (that's not including a mortgage! Sir Stelios launches easyBoat.com - Easy Stansted, Southend, as well as Newcastle from the end of August due to low levels of air travel demand as a result of the COVID-19 pandemic. When EasyJet received H89, it had a 1970s-style office setup. Haji-Ioannou conducts business via his private investment vehicle, the easyGroup, which owns the 'easy' brand and licenses it to the various 'easy'-branded ventures, including the airline. Posted:8 March 2022. His sister Clelia and brother Polys each hold stakes of 11.3 per cent, giving the family control of 38.2 per cent. Haji-Ioannou's EasyJet Upping Defense Against Bid? [82], Following the UK's referendum vote to leave the European Union, EasyJet announced a plan to establish an Air Operator Certificate (AOC) in another EU member state. The average Brit born in 1967 has had an interesting journey in terms of the travel options open to them. This gave the airline some time to evaluate the feasibility of operating these larger aircraft. He threatened to call a general meeting to remove a director every three weeks unless subsequent action was taken. Language links are at the top of the page across from the title. This service offers free allocated seating (including extra legroom), priority check-in, fast-track security, speedy boarding and extra cabin baggage. Commenting on a High Court judgement published earlier today, Sir Stelios Haji-Ioannou ( owner of the easy family of brands and easyJet's founder and largest shareholder) has criticised its "letting off the hook" of the Daily Telegraph and journalist Ben Marlow. I believe it is an extremely valuable asset which can generate substantial success for all involved with it. Passengers can pay an additional fee for certain seats such as the front few rows and overwing seats (which have extra legroom). [67][68], Since November 2019, easyJet has offset the carbon emissions from all of its flights using carbon offsetting projects that meet either the Gold Standard or Verified Carbon Standard (VCS) accreditation. They are all just fine. [103] As part of the agreement, the airline will have purchase rights on a further 100 A320neo aircraft. Consequently, easyJet announced a partnership with Airbus on a joint research project into zero-emission hydrogen aircraft. Early on, EasyJet operated as a paper airline, the aircraft themselves being flown and maintained under a lease. [20], In 2018, he filed an infringement claim against Netflix over their series Easy in a UK court, saying that use of the name breaches the Easy Group's European trademarks.[1]. Sir Stelios' blocking stake is now diluted after he chose not to purchase new shares in a rights issue following a takeover swoop by low-cost rival Wizz Air. [54] It also announced its first annual loss during the 25-year history of the company. [25] However, in April 2006, the threat of takeover receded as FL sold its stake for 325 million, securing a profit of 140 million on its investment. [103], On 15 May 2017, EasyJet announced the conversion of 30 A320neo orders into A321neo aircraft to be used on busier routes. Sir Stelios's blocking stake has been diluted after he chose not to purchase new shares in a rights issue following a takeover swoop by low-cost rival Wizz Air. Sir Stelios has repeatedly clashed with easyJets management over plans to expand the airline. These were flown on two routes: Luton to Glasgow and Edinburgh. Master of Science, City University of London; Bachelor of Arts/Science, London School of Economics. (see www.easy.com and www.easyHistory.info ). Sir Stelios threatens to sell family stake in fresh easyJet row Earlier this week, EasyGroups Stelios Haji-Ioannou, still a major shareholder though no longer an executive at easyJet, said he will offer a reward of up to 5 million ($6 million) of his own money to any whistleblower with information that leads to the cancellation of the order for easyJet to buy an additional 107 Airbus aircraft at the cost of 4,500,000,000 (i.e. So much for UK savers and homeowners what about the have-neithers? Thanks to a new airline called easyJet, they could pay as little as 78 return or barely a days work for the average employee. Haji-Ioannou was a member of the New Enterprise Council, a group set up to advise the Conservative Party on business policy. [66], On 27 September 2017, EasyJet announced its partnership with an American start-up company Wright Electric with the purpose of developing and introducing a short-haul 120-seat all-electric airline.
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