Easyjet pays to keep name
October 11th, 2010 by elisa

Earlier this year I reported on Easyjet founder, Sir Stelios Haji-Ioannou’s threat to remove the Easyjet name from the airline because he was unhappy with how the airline had been dealing with complaints from customers and that it was in breach of its brand licence.

Easyjet has now agreed to pay Sir Stelios an annual royalty of 0.25% of its revenues for the next 50 years to be allowed to keep the ‘easy’ name. The payments will be capped at £3.9m and £4.95m in the first and second years respectively.

In return, Sir Stelios has agreed to give up the right to appoint himself as Easyjet chairman and Easygroup will give up the right to appoint directors to the airline’s board.

Easyjet chief executive Carolyn McCall said:”This is a sensible resolution of a difficult dispute that provides a clear, fair, workable outcome that is an improvement for both sides.”

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