What is EasyJet without the Easy Brand?
We won’t discover that as EasyJet has managed to agree a new licence term and revision with it’s founder Sir Stelios Haji-Ioannou.
In return for Stelios agreeing to surrender the right to appoint himself as chairman and end EasyGroup’s right to representation on the carrier’s board, EasyJet will pay royalties of 0.25% of its revenues, for using the “Easy” Brand. In the first two years, fixed payments will be provided of high amounts
With this EasyGroup and EasyJet will enter into a 50-year term licence, and a minimum 10-year commitment period.
For EasyJet, this means they have more independence to do what it wants commercially, and see how to enhance the wonderful world of ancillary revenues which previously were limited to 25% of it’s revenues.
For Stelios… well… a few pennies to compensate him isn’t a bad days work…
