4/16/2020, 2:26 PM (Source: TeleTrader)
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EasyJet says it can't terminate Airbus order

EasyJet plc said on Thursday it is unable to cancel its contract with Airbus SE by reason of force majeure, stating it would be held liable for the manufacturer's losses due to termination.

The airline's statement comes after its founder Stelios Haji-Ioannou stated he would seek the ouster of the company's chief executive for paying Airbus £1.5 billion "whilst running an 'aircraft parking lot' for 9 months" and the removal of its chairman for failing to investigate the deal between the low cost airline and the manufacturer.

EasyJet previously announced it was deferring the delivery of 24 Airbus jets set to be consigned over the next three years.

Breaking the News / MD