BusinessCompany NewsEasyjet boss refuses to approve accounts

Easyjet boss refuses to approve accounts

The founder of one of the world's largest budget airlines continues his refusal to sign off on company accounts

Sir Stelios Haji-Ioannou has criticised the accounting policies of the board
of easyJet which has led to his refusal to sign off on company accounts.

Sir Stelios, who owns more than a third of the airline, outlined his
justification for the stance in a formal statement attached to the final
results, according to
timesonline.com

He said accounting policies demonstrated by members of the board fail in
reflecting ‘current commercial realities and the macro-economic climate’.

Neil Mirchandani, partner at Lovells, confirmed the accounts have been
approved by the board and PricewaterhouseCoopers, the airline’s auditor.

‘It is quite unusual. Under normal situations if a director is unhappy or
unsatisfied with accounts they would resign rather than sign-off. Stelios is
still a major shareholder in the company, so he is not simply going to give up,’
he said.

Further Reading:

EasyJet
reviews IT processes

Ad
watchdog raps easyJet over carbon claims

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