SIR STELIOS HAJI-IOANNOU FOUNDER OF EASYJET AND FASTJET SIR STELIOS HAJI- IOANNOU and his family recently received an early Christmas present in the shape of an estimated £31 million dividend pay- out on their 37 per cent shareholding in Easyjet. Relations between Sir
Stelios and the airline he founded in 1995 have been strained of late, but that £31 million should go a long way to easing some of the tensions. The Greek-Cypriot entrepreneur has been arguing for some time that shareholders should receive
a better return on their investment and, despite his failed attempt in August last year to oust Easyjet’s chairman Sir Mike Rake, his wishes appear to have come true. Few would argue with the contention that Sir Stelios’ luridly-orange brainchild has had a profound impact on European aviation. What started as a tinpot domestic carrier, operating two wet- leased Boeing 737s between Luton and Scotland, is now an international airline ferrying nearly 60 million passengers a year around a network of more than 600 routes and 30 countries. And now the self-styled “serial entrepreneur” is
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SIR RICHARD BRANSON FOUNDER AND PRESIDENT, VIRGIN GROUP IN THE DUST-COVER blurb to his 1994 book Virgin King, author Tim Jackson asserts that “behind the grin, beard and the trademark sweater, there is another Richard Branson”. Sir Richard is variously described as
“calculating”, “steely” and “an entrepreneur without formal training, but with an instinct for reducing risk and paring costs to the bone”. He is also, according to Jackson, “a front-man and ambassador who
puts his celebrity and political influence to commercial purpose”. That may have been nearly 20 years ago, but anyone who thought that Branson might be going soft in his old age (he will be 63 this year) should look back at his reaction to Virgin Trains’ loss of the East Coast Main Line rail franchise. Imputing “insanity” to the Department for Transport decision, Branson went on the warpath, forced senior government and Whitehall figures into humiliating retreat, and had the franchise award annulled. Virgin
Trains has won the interim franchise until November 2014.
That may now be history – albeit recent history – but the wholesale re-think of the way rail franchises are awarded is a measure of the man’s influence, and his readiness to use it.
All of which may come in very handy when Delta Air Lines completes its purchase of Singapore Airlines’ 49 per cent stake in Virgin Atlantic.
Sir Richard’s airline has been flagging of late, but the partnership with Delta could breathe much-needed new life into North Atlantic competition.
at it again – and his latest aviation venture could have even more impact than his first. The November launch of Fastjet, based on the Lonrho-owned airline Fly540, introduced the low- cost business model to what is arguably aviation’s final frontier – Africa. Sub-Saharan economies are booming and, as with India and China, a new travel-hungry middle class is emerging alongside a raft of business opportunities. Seven of the top ten fastest- growing global economies are now in Africa, and inward investment is breaking new records. The past is orange; the future’s bright.
CAROLYN MCCALL CHIEF EXECUTIVE, EASYJET Carolyn McCall has an impressive track record. She has a BA from Kent University in history and politics, followed up by an MA in politics from the University of London. She joined The Guardian in 1986 and rose
through the ranks all the way to the top – from advertising sales to chief executive of the Guardian Media Group. McCall also held non-executive director posts at fashion company New Look from 1999 to 2005, Tesco Plc from 2005 to 2008, and Lloyds TSB from 2008 to 2009. She was appointed chief executive at Easyjet in July 2010. She was awarded the OBE for services to
women in business in 2008, and in the same year was named Veuve Clicquot Business Woman of the Year. But most importantly for our list, McCall has transformed Easyjet – and budget carriers generally – into a significant stall-holder in the business travel marketplace.