EasyJet plans market take-off

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The Independent Online
EASYJET, the low-cost airline, aims to float on the stock market next year, its chairman said yesterday. Stelios Haji-Ioannou (pictured) said he hoped to take the airline public early in 2000. The airline, owned by Mr Haji-Ioannou and two other family members, shelved plans to float after the market crash last year.

Funds raised will be used to buy 42 new Boeing 737-300 aircraft. A spokesman said easyJet's load factor and yield figures showed it not been adversely affected by the launch of Go!, BA's low-cost airline. As a result, easyJet was dropping its appeal to the European Commission that BA was abusing its market power.