Sir Stelios: easyJet’s results are just financial jiggery-pokery

Commenting on easyJet’s 2020 full year financial report, airline founder and largest shareholder, Sir Stelios Haji-Ioannou said:

“The scoundrels’ absurdly upbeat message and misleading numbers about how much money they lost in just six months of Covid is in stark contrast to the facts.

“The real LOSS for the year is £1.345bn (reported as the total comprehensive loss) however after adding in an imaginary tax credit of £194m – that amounts to £1.539bn of shareholders’ money flushed down the toilet. What’s that between friends?

“This exercise in financial jiggery-pokery is only designed to justify why they are spending £1.8bn on new planes from Airbus in FY20-22.

“In my opinion the scoundrels are now only running the business for the benefit of Airbus and not for the benefit of easyJet shareholders. Who knows – perhaps they profit personally every time easyJet buys a plane from Airbus?

“Why does anyone want to buy more aircraft when 80% of the fleet (273 aircraft) is grounded as we speak?”

Please click here to view the full
easyJet Results for year ending 30th September 2020

Media Coverage

18/11/2020 – Daily Mail (Market Report)
18/11/2020 – Financial Times
18/11/2020 – Financial Times (Opinion Lex)
18/11/2020 – The Daily Telegraph (Business by Ben Marlow)
18/11/2020 – The Daily Telegraph (Business by Oliver Gill)
18/11/2020 – The Guardian
18/11/2020 – The Guardian (Business View)
18/11/2020 – The Times