Easyjet

Easyjet

EasyJet plc, styled as easyJet, is a British low-cost airline group headquartered at London Luton Airport.[3] It operates domestic and international scheduled services on over 1,000 routes in more than 30 countries via its affiliate airlines EasyJet UK, EasyJet Switzerland, and EasyJet Europe.[4][5] EasyJet plc is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. easyGroup Holdings Ltd (the investment vehicle of the airline's founder Stelios Haji-Ioannou and his family) is the largest shareholder with a 34.62% stake (as of July 2014).[6] It employs nearly 15,000 people, based throughout Europe but mainly in the UK.[2]

EasyJet has seen expansion since its establishment in 1995, having grown through a combination of acquisitions,[7][8] and base openings fuelled by consumer demand for low-cost air travel. The group, along with associate companies EasyJet UK, EasyJet Europe and EasyJet Switzerland, operate more than 300 aircraft. It has 29 bases across Europe, the largest being Gatwick.[9] In 2014, the airline carried more than 65 million passengers,[10] making it the second-largest budget airline in Europe by number of passengers carried, behind Ryanair.[11]

EasyJet was featured in the television series Airline broadcast on ITV which followed the airline's operations at London Luton and later at other bases. Its pilot training scheme was the subject of another ITV television series, easyJet: Inside the Cockpit, which premiered in August 2017.[12]

On 30 March 2020, due to the COVID-19 pandemic, EasyJet grounded its entire fleet of planes, with no confirmed date as to when they would restart

EasyJet has its roots in the business activity of Greek-Cypriot Stelios Haji-Ioannou, who reportedly gained an interest in the aviation business after being approached as a potential investor in Virgin Atlantic's Greek franchisee. Recognising a vacant niche in the market, Stelios decided to examine the prospects for launching his own airline, having secured a commitment of a £5 million ($7.7 million) loan from his father.[14] While studying various business models in the industry, Stelios took significant interest in the American operator Southwest Airlines, which had successfully adopted the practice of price elasticity to be competitive with traditionally cheaper buses and attract customers that wouldn't normally have considered air travel. This principle became a cornerstone of EasyJet's operations.[14][15]

In 1995, EasyJet was established by Stelios, being the first company in what would later become the easyGroup conglomerate. Upon launch, it employed just 70 people; the company being based at London Luton Airport, which was traditionally used only by charter flights.[14][16] To encourage the company, Luton Airport chose to give EasyJet free use of a 15,000 square feet building for its headquarters, which it named easyLand; its management style typified minimal overhead, such as an early implementation of the paperless office concept.[14] EasyJet initially operated a pair of wet leased Boeing 737-200 aircraft, capable of seating 148 passengers each; these were flown on two routes: Luton to Glasgow and Edinburgh. Early on, EasyJet operated as a 'paper airline', the aircraft themselves being flown and maintained under contract by British World Airlines.[14] Early promotional activity focused on the airline's relatively low pricing in comparison to incumbent operators.[16] Within its first year, easyJet reportedly carried approximately 40,000 passengers.[16]

In April 1996, the first wholly-owned aircraft was delivered to EasyJet, enabling the company's first international route, to Amsterdam, which was operated in direct competition with rival airlines British Airways (BA) and Dutch flag carrier KLM.[14][16] Competitors responded to the emerging EasyJet in different ways; while BA was largely indifferent, KLM allegedly chose to respond with a predatory pricing strategy that led to an investigation by the European Union over unfair competitive practices.[14] Despite commercial pressure from the emergent no-frills sector, traditional airlines have been unable to directly adopt similar practices to EasyJet due to vigorous protection of existing employee privileges by unions.[17]

Until October 1997, all of EasyJet's aircraft were operated by GB Airways, and subsequently by Monarch Airlines and Air Foyle, as EasyJet had not yet received its Air Operator's Certificate