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Monday, 25 November, 2002, 10:47 GMT
End of Easyjet role for Stelios
Stelios Haji-Ioannou
Stelios Haji-Ioannou steps down on Tuesday
The founder of budget flight firm Easyjet steps down from his post as chairman on Tuesday.

Stelios Haji-Ioannou says he will concentrate on other ventures after his move from the Luton-based airline.

Mr Haji-Ioannou managed to build Easyjet into Europe's biggest no-frills airline and became one of the country's best-known entrepreneurs.

In 1995, he used a 5m loan from his father to start up the airline.

After stepping down from the board of Easyjet, Mr Haji-Ioannou will concentrate on other ventures, including budget car rentals and internet cafes.

Easyjet's new chairman will be Sir Colin Chandler, the former chairman of Vickers Defence Systems.

Mr Haji-Ioannou currently owns almost 22% of Easyjet and said he would remain a "significant" shareholder in the airline.

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The BBC's Aaron Heslehurst
"The budget airline continues to fly high"

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See also:

13 Sep 02 | Business
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07 Apr 02 | Business
15 Nov 00 | Business
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