Stelios Haji-Ioannou, the founder of easyJet (London Luton) and its now largest single shareholder, says he will oppose any move by the airline's board to acquire Monarch Airlines (1968) (London Luton).
According to Reuters, Haji-Ioannou, whose easyGroup private investment company owns a 34% stake in easyJet, said: "My personal view as a shareholder is that easyJet should not do any acquisitions. They usually destroy shareholder value."
Haji-Ioannou's remarks come days after informed sources told The Sunday Times that the UK LCC was among several firms interested in acquiring Monarch from its majority shareholder, Greybull Capital LLP. With Monarch now back on track to profitability, the UK-based investment firm is reportedly considering offers for a buy-out.
Thus far, unconfirmed reports have linked Monarch with China's HNA Group, Air Berlin (1991) (Berlin Tegel), TUI and Thomas Cook Group carriers, as well as a Spanish LCC, presumed to be Volotea (V7, Barcelona El Prat).
