4/8/2020, 12:37 PM (Source: TeleTrader)
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EasyJet founder threatens to sue over $5.5B Airbus order

EasyJet founder Stelios Haji-Ioannou asked on Wednesday the company's shareholders to cancel an order for 107 Airbus planes, warning directors he will sue them unless his demand is fulfilled.

Haji-Ioannou claimed new Airbus planes would be useless in the situation of halted air travel due to the coronavirus pandemic, resulting in a potential $5.5 billion investment that would endanger easyJet's liquidity.

"If a penny of easyJet's money goes to Airbus while the company defaults on other future financial obligations, I will personally make sure any scoundrels responsible will go to jail for breach of their fiduciary duties," insisted Haji-Ioannou.

Breaking the News / ND