The founder and top shareholder of European airline easyJet says the company has enough money only to get through August as it struggles with the global lockdowns on business and travel
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The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Monday related to the global economy, the work place and the spread of the virus.
AIRLINES: The founder and top shareholder of European carrier easyJet says the company has enough money only to get through August at best and wants to cancel a 4.5 billion-pound ($5.5 billion) contract with planemaker Airbus for what he calls 107 “useless aircraft.”
In a long statement to the media, Stelios Haji-Ioannou says that terminating the contract is the only way for shareholders to retain any value in their holdings in the company. EasyJet, which flies predominantly in Europe,…
Source news reuters.com, click here to read the full news.