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easyJet settles brand dispute with founder
Budget airline easyJet has confirmed that it has resolved a long-running legal dispute with founder Sir Stelios Haji-Ioannou over the use of the 'easy' brand.
The revision of a brand licence agreement will enable the airline to use the 'easy' name for its ancillary activities, which include tie-ups with car hire and hotel booking companies. In return for what the carrier calls improved operational flexibility, Sir Stelios will net 0.25 per cent of easyJet's revenue in "royalty" payments - fixed at £3.9m and £4.95m for the first two years.
Sir Stelios has also agreed to give up the right to appoint himself as easyJet chair and easyGroup's right to name a representative on the board of the airline. "As the largest single shareholder in the airline as well as the owner of it's brand, I hope that the new team, led by Mike, Carolyn and Chris, will use this expanded scope of the brand licence to create value for all shareholder," said Sir Stelios.
easyJet chief executive Carolyn McCall added: "This is a sensible resolution of a difficult dispute that provides a fair, clear, workable outcome that is an improvement for both sides." Image: easyJet
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