easyJet plc response to easyGroup

RNS Number : 3001K

easyJet PLC

13 July 2011

 



easyJet response to easyGroup

"In response to the statement this morning from easyGroup, the Board of easyJet confirms it has received Sir Stelios Haji-Ioannou's letter dated 11 July 2011 and will respond to the points raised in due course.

"In the mean time the Board wishes to be clear that easyJet's fleet announcement of 4th January complied with all relevant regulations and reflects discussions which took place in advance of its release with the UK Listing Authority. The commercial value of the deal reflected substantially less than the current Airbus list prices for the aircraft and fell under the threshold for Class 1 transactions requiring shareholder approval.

"The transaction announced in January, although treated as a new transaction for regulatory purposes, was under the framework of the Airbus contract signed by easyJet in 2002 and the aircraft will not be delivered until the latter part of 2013 at the earliest, with the majority of deliveries being in 2014 and 2015, primarily to replace existing aircraft that will be retiring from the fleet at that time.

"Given the current industry environment, with oil expected to remain over $1000 metric tonne and fragile consumer confidence across Europe, easyJet has already stated that it intends to hold the size of its fleet at a maximum of 204 aircraft in winter 2011 and winter 2012."

Enquiries should be directed to:

easyJet plc

Investor:

Rachel Kentleton, Investor Relations                                                      [phone]

Media:

Paul Moore, Communications                                                                    [phone]

Finsbury:

Edward Simpkins                                                                                              [phone]

                                                                                                                                 [phone]

 

END

 

 

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