19 November 2008

Easyjet Profit Plunges as Boardroom Battles

Sir Stelios and the Easyjet board are now officially at war. The battle of the use of the "Easy" brand name and control of the company of the airline's founder and largest shareholder group is getting uglier and uglier.

Frankly I am at a loss to understand why the Happy Greek would want to mess with this unless he feels there is a problem. Easyjet's performance doesnt seem to support that. However like everyone else they have been feeling the downturn.

Easyjet's move away from the purist LCC model to HVC has challenges.

Let's hope they make nice and make up before this turns really nasty. Somehow I think this is a soap opera that has a way to run yet

Cheers

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