Simple Flying - Joanna Bailey

easyJet founder Sir Stelios Haji-Ioannou has issued a warning today that the low-cost carrier could find itself strapped for cash by mid-summer if action is not taken soon. The easyJet founder and majority shareholder had previously expressed a desire for the airline to cancel its order with Airbus in a bid to ease cash worries caused by the current travel downturn.

Sir Stelios Haji-Ioannou, “If this 4.5 billion pound liability to Airbus is preserved – and not cancelled – by the easyJet board then, I regret to report, easyJet will run out of money around August 2020, perhaps even earlier. I will certainly not be throwing good money after bad. For the avoidance of doubt, I will not inject any fresh equity in easyJet whilst the Airbus liability is in place.”

 

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