easyJet’s new CEO, Carolyn McCall, is reviewing all assumptions underpinning the LCC’s business model, with a view to updating investors at the full-year results in November (Telegraph, 10-Jul-2010). Ms McCall is considering hiring third-party investors to assist with the review. Her focus will be on the airline’s pace of growth and resulting fleet requirements. The same issue sparked clashes between former CEO, Andy Harrison, and the airline’s founder and key shareholder, Sir Stelios Haji-Ioannou. Sir Stelios has repeatedly shown concern at further growth prospects, citing low returns and risks associated with the expansion of the airline’s fleet in uncertain economic times.
12-Jul-2010 1:21 PM