Stelios sells part of easyJet stake

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The Independent Online

EasyJet's founder, Sir Stelios Haji-Ioannou, and his family have sold more than £5m-worth of shares, 1 per cent of their 37 per cent holding, and warned the board of the budget airline that they will sell the rest of their stake if it places a large aircraft order. Sir Stelios said he wanted to "send a clear message to our directors", adding: "The only reason that the profits have kept pace is due to the average customer now paying 33 per cent more than they did four years ago. There is still one major concern that could screw up this financial success story: another aircraft order."

Sir Stelios claimed this would "destroy shareholder value", saying: "If they place such an order I will be looking to dispose of more of my stake."