EasyJet Founder Reduces Stake as Warning Against Aircraft Orders
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EasyJet Plc founder Stelios Haji-Ioannou reduced his holding in the low-cost U.K. airline and threatened a further cutback in the stake should the company seek new airplanes in five years.
Haji-Ioannou family members sold a total 600,000 shares last week, cutting their combined stake in the Luton, England-based airline to just under 37 percent, the entrepreneur, who goes by his first name, said in an e-mailed statement today. EasyJet should refrain from buying more airliners and focus on increasing profitability, he said.