easyJet History and information

easyJet

A low cost airline officially known as easyJet Airline Company Limited, based in London - Luton Airport. The airline operates frequent services for leisure and business passengers and serves more 200 routes between 65 European airports. It was founded by entrepreneur Greek Cypriot Stelios Haji-Ioannou, but it is now a plc listed on the London Stock Exchange and easyGroup owns only a small minority stake. It is a constituent of the FTSE 250 Index.

http://www.easyjet.com/ Official website

easyJet's success paved the way for a boom in cheap air travel in the late 90's and early 2000's. This led easyJet to be accused, amongst other budget carriers, of contributing to global warming through carbon emissions of aircraft.

The airline was established on 18 October 95 and started operations on 10 November 95. It was launched by Stelios Haji-Ioannou with two leased Boeing 737-200 aircraft wet leased from GB Airways and operating two routes: London Luton to Glasgow and Edinburgh. Its early marketing strategy was based on 'making flying as affordable as a pair of jeans' and urged travellers to 'cut out a travel agent'. This caused much outrage among travel agents. In March 98 it purchased a 40% stake in TEA Switzerland, renamed EasyJet Switzerland. easyJet was floated on the London stock exchange in October 2000. Operations were boosted in 2002 with the acquisition of rival airline, London Stansted based Go Fly. In December 2003 easyJet announced it would open a new hub in Berlin, at Schönefeld Airport, from which it started flying on 11 routes from May 2004. easyJet's main shareholder is Haji-Ioannou whose family own 17%. It also holds a 49% stake in easyJet Switzerland.

In 2006 The prospects of a takeover bid for budget airline Easyjet have fell after Icelandic firm FL Group sold its stake in the carrier.
Speculation had risen that FL Group, which owns Icelandair, might make a bid for Easyjet after it increased its stake in the airline. However, FL has now sold its 16.9% stake for about 325m euros ($397m; £228m), making a profit of 140m euros. It said the proceeds from the sale would be used on new investments.

In 2006 unions representing workers at budget airline Easyjet have reached a three-year wage deal with management for cabin crew workers.
The Transport and General Workers' Union and Amicus said the deal entailed wage increases of 4% this financial year, 3.25% in 2007 and 3% in 2008. This was after in 2006 The Transport & General Workers' Union (T&G) said they will ballot 1,500 Easyjet cabin crew about whether to take strike action at the budget airline over pay. Easyjet offered a wage increase of 3.5% in the first year of the deal, with a guaranteed bonus of 2%. In the second year, there would be a 3% increase, with a 2% bonus only if the company reached its financial targets. The T&G said that other workers such as pilots had a better deal at a time when Easyjet's profits were improving.

Budget airline Easyjet saw passenger numbers rise to 2.73 million in October 2005, up 13.7% compared to 2004.
The Luton-based carrier said its load factor, an indication of how many seats on an aircraft are taken, was 85.6%.

In 2005 Easyjet set to part company with chief executive Ray Webster: retiring early for personal reasons after almost 10 years in the position.
Mr Webster was set to depart in 2006, but stood down from the top job as soon as a replacement is found. He said in a statement that the company had been the highlight of his airline carrier, but that this had been at the expense of "some personal costs".

easyJet's main base is London Luton (LTN), although its largest is now at London Gatwick (LGW). It also has hubs at:-

Basel (BSL),
Belfast International Airport (BFS),
Berlin Schönefeld (SXF),
Bristol International Airport (BRS),
Dortmund Airport (DTM),
Edinburgh (EDI),
Geneva Cointrin International Airport (GVA),
Glasgow International Airport (GLA),
Liverpool John Lennon Airport (LPL),
London Stansted (STN),
Malpensa International Airport (MXP),
Newcastle Airport (NCL),
Nottingham East Midlands Airport (EMA),
Orly Airport, Paris (ORY)

The members of ELFAA are: (ELFAA stands for European Low Fares Airline Association, an organization formed in 2002 to represent low-fare airlines)

Norwegian Air Shuttle
Flybe
EasyJet
SkyEurope
Sverigeflyg
Wizz Air
Ryanair
Sterling Airlines
transavia.com
Air Berlin
Hapagfly
HLX.com
Volare Airlines

easyJet is claimed to be a more business oriented airline than Ryanair, since it flies to major airports and recently removed limits on hand luggage weight

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