Newspaper article The Journal (Newcastle, England)

Haji-Ioannou Cruises into Fresh Ventures

Newspaper article The Journal (Newcastle, England)

Haji-Ioannou Cruises into Fresh Ventures

Article excerpt

Easyjet founder Stelios Haji-Ioannou yesterday said he had raised about pounds 14.2m for a "little shopping spree" to extend his business empire.

The entrepreneur has cashed in four million shares in order to buy a cruise ship, hotel and a fleet of minibuses.

Mr Haji-Ioannou's sale of shares reduces his stake in the company by 1pc to 16.6pc, although he still remains the single biggest shareholder.

In a statement, the former easyJet chairman said he did not intend to sell out of the airline and still had a "strong vested interest" in it.

He said: "I remain a great believer in the scalability and sustainability of the business model I developed."

Mr Haji-Ioannou said he had sold the shares as part of his drive to move into different sectors and spread the easy brand to as many industries as possible.

In the past few days he had made "firm commitments" to buy a cruise ship capable of carrying 250 people, a 25-room hotel in south-west London for easyHotel and a fleet of 10 Mercedes buses for easyBus. …

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