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easyJet loses CEO and choses Austria as base for easyJet Europe

easyjeteasyJet plc announces that Carolyn McCall has advised the Board of her intention to leave easyJet in order to become CEO of ITV plc.  She is expected to leave easyJet around the end of the year.  In the meantime, Carolyn will continue with her existing responsibilities.

The search for her successor has already commenced and the Company expects to select from a strong range of candidates.

Commenting on the announcement, John Barton, easyJet Chairman, said on Monday, July 17th:

"Carolyn built and led the management team that has transformed easyJet's performance in every respect since 2010.

"She put easyJet's passengers and people at the heart of the business.  Having first built a solid operational performance, she redefined the customer experience not just at easyJet but across short-haul Europe and has seen both the number and loyalty of easyJet's passengers grow as a result.

"This has led to sustained and continuing financial success which has been shared with shareholders with a more than trebling of easyJet's share price and the payment of £1.2 billion in dividends.

"She will leave easyJet well set for future success.  Her successor will inherit a leadership team of strength and depth, engaged people and loyal passengers flying on Europe's best network.

"I speak for absolutely everyone at easyJet in saying we will be sorry to see Carolyn leave and that we wish her well in her exciting new role."

Carolyn McCall said:

"This was a really difficult decision for me to make. I have had an amazing seven years at easyJet, I am so proud of what the airline and its people have achieved in that period.

"After seven years, the opportunity from ITV felt like the right one to take. It is a fantastic company in a dynamic and stimulating sector.

"easyJet is a structural winner in a brilliant position, and I look forward to being a loyal customer in the years to come.

"I will always miss easyJet and most of all I will miss easyJet's people whose Orange Spirit helps them do their best to make travel easy and affordable for their customers every day."

easyJet's Third Quarter trading update will be issued on Thursday 20 July.  easyJet expects to report that an improving revenue per seat trend, as outlined in the half year results in May, has been supported by strong third quarter load factors, as well as the continued reduction in market capacity growth and a significant benefit from the move of Easter to April.

Full year cost per seat at constant currency expectations remain in line with guidance reflecting continued strong cost control with planned investments in resilience to support the delivery of improved operational performance during the summer months. Operational performance for the quarter has improved as the investment in resilience has delivered improved on time performance across the network.

On 27 June, Standard and Poor's reaffirmed easyJet's credit rating at BBB+, reflecting an investment grade balance sheet.

Move to Austria

Following a rigorous and comprehensive process, easyJet earlier this year applied to Austro Control for an Air Operator Certificate (AOC) and to Austria's Federal Ministry for Transport, Innovation and Technology (bmvit) for an airline operating licence.

The accreditation process is now well advanced and easyJet hopes to receive the AOC and licence in the near future.

These will allow easyJet to establish a new airline, easyJet Europe, which will be headquartered in Vienna and will enable easyJet to continue to operate flights both across Europe and domestically within European countries after the UK has left the EU (regardless of the outcome of talks on a future UK-EU aviation agreement).

The people and planes that will fly for easyJet Europe are already employed and based in EU27 countries.


-1 #2 Margaridaana 2017-07-17 12:57
I see in the UK press that her annual salary is to be £900.000 plus pension and possible bonuses. No one is worth that amount of money.
+3 #1 Chip 2017-07-17 10:38
I have to say I can't fault them for value for money.