EasyJet Plc said it’s ready to take on a low-cost challenge from Europe’s former flag carriers, predicting they’ll struggle to embrace the no-frills approach that’s lured travelers to discount operators.
EasyJet Plc shareholders backed an order for 135 Airbus SAS jets valued at $13 billion, cementing Chief Executive Officer Carolyn McCall’s strategy of going toe- to-toe with former flag carriers on short-haul routes.
Ryanair Holdings Plc and Michael O’Leary , its chief executive officer, apologized to the founder of rival EasyJet Plc and agreed to pay about 50,000 pounds ($77,000) to settle a lawsuit over an advertisement that likened him to Pinocchio .
EasyJet Plc founder and No. 1 shareholder Stelios Haji-Ioannou said he will vote against a management plan to buy 135 Airbus SAS jets valued at $13.2 billion, citing a lack of transparency to the transaction.
EasyJet Plc agreed to buy 135 Airbus SAS jets worth about $13.22 billion at list price as Europe’s No. 2 low-cost carrier upgrades its fleet, reopening a confrontation with its founder, who has opposed the purchase.