Sir Stelios threatens to sell family stake in fresh easyJet row
(Daily Telegraph Article: link below)
Just a quickie, as they say.
So, Sir Stelios Haji-Ioannou says he has become “increasingly concerned” at easyJet’s growth plans which he claims are centred on an “expansion at any cost policy” with directors “squandering” cash on new aircraft.
Spot on Sir Stelios. Peak oil means that one of the first industries that will be hammered in our oil-equals-transport, complex, globalised society is the airline industry. Indeed, the hammering has already started if you look at the industry’s profit margins in recent years; about a fifth of what they should be (and have been) as I recall. Unsustainable comes to mind.
Invest in the future of commercial aviation? No thanks. Good move to sell out Sir Stelios.