SIR STELIOS Haji-Ioannou has sparked a fresh row with the EasyJet airline he founded by demanding an increase in dividend payments, it was reported yesterday.
Sir Stelios, who with his family owns 38% of the company, sent a letter to chairman Mike Rake, which was seen by a weekend newspaper and lists several demands including more than doubling its dividend to 50% of earnings.
The spat threatens to overshadow a bumper set of results on Tuesday, which are expected to reveal profits of between £240m and £250m in the year to September 30, compared to £188m last year. This would be a 27% increase at the low end.
The newspaper also reported that the British-Cypriot entrepreneur has accused the EasyJet chairman of trying to turn his brother Polys Haji-Ioannou – another big shareholder – against him.
Sir Stelios has threatened to vote to oust directors unless they agree to his demands, it was claimed. These include giving shareholders a vote on all new aircraft orders.
