Stelios loses his grip on easyJet after 26 years

Sir Stelios has repeatedly clashed with easyJet’s management more than options to extend the airline. 

Just after easyJet tapped shareholders at the get started of the pandemic, he warned he would not again the board if they returned to the market to ask buyers for additional income. 

Sir Stelios declined to comment on the dilution of his stake in easyJet.

Some 93pc of shareholders backed the £1.2bn legal rights challenge, put in spot to fork out down personal debt and capitalise on the problems experiencing “legacy” carriers these kinds of as British Airways. 

EasyJet’s position has been strengthened in the final week just after BA’s prepare to launch a new brief-haul airline at Gatwick had been scuppered by its pilots voting down the proposals. 

BA will carry on to run very long-haul companies from the airport, but it is unclear if it will offer the Gatwick landing slots or transfer them to one more IAG airline these kinds of as Aer Lingus or Vueling.

Shares ended two.7pc decrease at 690p, valuing the business at £5.2bn. The inventory was at 412p at this time final calendar year.