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With air travel brought to a halt and easyJet planes parked up
around the world, Haji-Ioannou had stepped up his public
campaign for management to scrap a $5.6 billion order for 107
new Airbus <AIR.PA> planes that he says they cannot afford.
A virtual shareholder meeting was called for the removal of the
chairman, chief executive, finance director and one other
director that turned into a proxy vote on the British budget
airline's overall strategy.
EasyJet said more than 99% of votes cast by independent
shareholders backed the board. Haji-Ioannou's family is
easyJet's biggest investor with a 34% stake.
"The airline industry is facing unprecedented challenges and the
board's immediate priority has been to take the necessary steps
to successfully guide easyJet through this period of
uncertainty," Chairman John Barton.
"The board seeks good relationships with all of the company's
shareholders and hopes to be able to re-engage constructively
with Sir Stelios."
Management says that the company's financial position is strong
enough to get through the crisis and the new planes are needed
to replace ageing jets and will help it stay competitive when
flying restarts.
Having founded easyJet in 1995, Haji-Ioannou quit the board in
2010 and has clashed several times with management since.
His opposition to the Airbus deal is such that he offered a 5
million pound reward to anyone with information that could lead
to the cancellation of the order earlier in May.
Haji-Ioannou said he would continue his search to find out why
the Airbus deal was going ahead.
(Reporting by Sarah Young; editing by Kate Holton and Louise
Heavens)
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