NO-FRILLS carrier Easyjet could pay a one-off dividend to appease majority stake holder and founder Stelios Haji-Ioannou.

The airline, one of the biggest operators at Liverpool John Lennon airport, has never paid a dividend in its 11 years as a listed company, but pledged to reveal details of proposed dividend payments with its full year results this November.

However, reports claim that the airline is considering an extra one-off payment, which could be as high as £100m, that would be worth £38m to Stelios and his family who own a 38% stake in the company.

Easyjet has £1.4bn in cash but has a policy of retaining a reserve of £4m for each aircraft in its 200-strong fleet.

The remaining £600m is a reserve to guard against Europe’s volatile economic recovery and fluctuating stock markets.

But the Easyjet board has been embroiled in a long-running row with Stelios who has opposed its fleet expansion plans in what he claims is too weak a market to justify the investment.

He has called for the company to return cash to its shareholders, instead.

The board is believed to have discussed the special dividend payment, but it is understood that no final decision has been taken.

Easyjet declined to comment.

Easyjet Shares closed last week at 324.3p, compared with a year high of 479.3p and a low of 300.1p.