EasyJet bats away latest Stelios issues with investors’ blessing

Marion Dakers
EASYJET shareholder Sir Stelios Haji-Ioannou has published a fresh list of complaints about the budget airline, but investor bodies the Association of British Insurers (ABI) and ISS have given the firm’s proposals the thumbs up.

Sir Stelios yesterday repeated his call for EasyJet chairman Sir Mike Rake to resign before his planned departure date in the summer.

The EasyGroup founder, whose family owns 37 per cent of EasyJet’s shares, said he will vote against Sir Mike’s re-election and the firm’s remuneration report at a share-holder meeting on 21 February.

“I have no favourites in who the next chairman would be,” said Sir Stelios. “I just want someone who hates Airbus and hates taking large gambles with our money.”

Sir Stelios has long been critical of Sir Mike and the group’s ties with Airbus, grievances that have flared up as the firm considers its next plane order.

EasyJet responded yesterday by pointing out the “blue top” rating given to its AGM proposals by the ABI – meaning that one of the UK’s biggest investor representatives has no concerns. Proxy advisory service ISS has also given its backing.