EasyJet founder Stelios Haji-Ioannou is to offer staff 15% of the
company when he undertakes a partial flotation in November in a move to
maintain the airline’s unique culture.
Haji-Ioannou, who expects to raise about pounds 500m from the flotation
of a quarter of EasyJet, is concerned that the airline’s meteoric growth
threatens to dilute the ’pull together’ culture instilled since the
launch in 1995.
During 1999, EasyJet trebled its number of aircraft to 18 and added two
more airports, Liverpool and Geneva. New internet ventures are also
forcing Haji-Ioannou to step back from the day-to-day running of the
airline.
In an exclusive interview, he told Marketing: ’It’s easy to instil a
philosophy to half a dozen people but try to do it to 2000 people like
EasyJet will be next year, it is an increasing challenge ... It’s
difficult to motivate staff these days without stock options.’
Brand Masters, page 20.
