EasyJet founder says he would oppose acquisitions

EasyJet's founder and biggest shareholder Stelios Haji-Ioannou would oppose any move by the company to make an acquisition, he said, following media reports that it was looking at making a bid for Monarch. The Sunday Times newspaper said that EasyJet was eyeing Monarch Airlines, one of a number of stories about Monarch to emerge in recent days. Another media report said that Monarch was looking at buying other European airlines. Haji-Ioannou said EasyJet should stay clear of takeovers. "My personal view as a shareholder is that EasyJet should not do any acquisitions," he said. "They usually destroy shareholder value." Haji-Ioannou added, however, that as the owner of the "easy" brand he would benefit from anything that increased EasyJet’s revenues because it would mean increased royalties for EasyGroup. <br/>