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Stelios statement on the easyJet /Airbus scandal 16 April 2019 at 12.12h BST
Commenting on the easyJet 2020 H1 trading update released on the 16 April 2020, the airline’s founder and largest shareholder Sir Stelios Haji-Ioannou said:
“I have previously referred those in charge of easyJet as scoundrels. This remains my view. They made a deliberate mistake in affirming the contract between easyJet and Airbus worth at least £4.5 billion whilst easyJet has a grounded fleet of 337 Airbus aircraft. Instead of serving a notice of termination to Airbus to cancel the contract they have deliberately chosen to send at least £2.5bn of our cash to Airbus in the years 2020-22. At least £1.5 billion of our cash (of the £2.5bn) is shown as going to Airbus in the next 9 months whilst the fleet could remain grounded.
Read more: Stelios statement on the easyJet/Airbus scandal 16 April 2019 at 12.12h BST
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Update from Stelios on the easyJet/Airbus scandal
Stelios has hired a hard hitting legal team of Simon Bushell and Ben Jaffey to expose the deficiencies in the easyJet announcement of the 9th of April 2020 about “deferring” 24 aircraft deliveries from Airbus.
The long argument can be seen in the letter but in short the “new deal with Airbus” must be put to a shareholder vote.
The scoundrels at easyJet do not have the corporate authority to cut such a deal given the collapsed share price and the monumental size of the Airbus order of c GBP 4.5bn. If the FCA does not force the scoundrels to call a shareholder vote on new deal with Airbus, easyGroup will not hesitate to seek a judicial review.
In plain English that means going to High Court judge to ask for an injunction to require the regulators to do their job properly.
Read more: Update from Stelios on the easyJet/Airbus scandal
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Partnership Update and Overview | March 31, 2020
Global Blockchain Ventures, LP have published their Partnership Update and Overview report for Q1 2020. The GPs have provided an update and an overview of the activities of the Fund. The management team continues to focus on: Monitoring COVID-19 and Capital Markets; Capital Formation; Existing Portfolio Companies; Evaluation of New Companies; and Identifying Strategic Opportunities.
Read more: Global Blockchain Ventures Fund - Q1 2020 report to Limited Partners
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Phoenix, Arizona, 14 April 2020 – Kaleido, the top-rated digital transformation platform for building and running collaborative business networks, announced today at the Hyperledger Global Forum that it is the first blockchain SaaS platform to receive ISO 27001:2013 certification for its Information Security Management System.
Anglo-Suisse Capital Limited is a financial adviser to Global Blockchain Ventures, a Kaleido investor.
Read more: Kaleido, the first SaaS Blockchain platform to achieve ISO certification
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Sir Stelios Haji-Ioannou, founder and owner of the easy family of brands (www.easy.com), has made a comment on the announcement by easyJet PLC released to the markets at 1618 on 9 April 2020.
Stelios comment at 1722h on the 9th of April 2020 :
I strongly believe the directors of easyJet are in breach of the market abuse regulations by not disclosing the payments made and to be made from easyJet to Airbus this year. They are not being transparent with their investors and they are putting at risk £600m of UK taxpayers’ money by paying Airbus during the next 6 months of zero revenues. I consider this to scandalous.