Month: December 2007

EasyJet (LSE: EZJ), styled as easyJet, is a low cost airline officially known as EasyJet Airline Company Limited, based at London Luton Airport. It is one of the largest low-fare airlines in Europe, operating domestic and international scheduled services on 307 routes between 80 key European cities.

The airline was established on 18 October 1995 and started operations on 10 November 1995. It was launched by Stelios Haji-Ioannou with two Boeing 737-200 aircraft wet leased from Independent Aviation Group Limited (“IAG”). IAG, in turn, sub-contracted the operation of the aircraft to GB Airways, and then to Air Foyle from May 1996 onwards.

EasyJet initially operated two routes: London Luton to Glasgow and Edinburgh. Its early marketing strategy was based on ‘making flying as affordable as a pair of jeans’ and urged travellers to ‘cut out the travel agent’. This caused much outrage among travel agents. EasyJet was floated on the London stock exchange in October 2000. Operations were boosted in 2002 with the acquisition of rival airline, London Stansted based Go Fly.

EasyJet does not own its brand, unlike most other airlines. Sir Stelios Haji-Ioannou, the founder and largest individual shareholder of EasyJet Airline Co. Ltd. has sole ownership of the “easy” brand and licenses it to his airline (as well as to all other easyGroup businesses).
For most easy businesses, the business pays a specified fee to Stelios for the use of the name. However, given the strength of the EasyJet brand and the high amount of free advertising and publicity it lends to the other ‘easy’ businesses, it was agreed at the time of flotation that EasyJet could use the name royalty free.

In this case, this kind of arrangement would be of importance should EasyJet ever become the subject of a hostile takeover bid. Any bidder[s] will not automatically acquire ownership of the “easy” brand if their bid for the airline is successful. Without securing access to that brand, the airline will be worth a lot less to any new owner[s]. The aforesaid arrangement is similar to the terms governing the use of the Jet Airways brand by that airline.

EasyJet is now a public limited company listed on the London Stock Exchange and members of the Haji-Ioannou family own approximately 43%. It has 3,875 employees (at March 2007) It is a constituent of the FTSE 250 Index.

The EasyJet fleet consists of the following aircraft (at September 2007):
* Airbus A319-100 = 107 (120 orders) = 156 passengers
* Boeing 737-700 = 30 = 149 passengers

The Gillette Fusion is a five-bladed safety razor by Gillette, released in 2006. It is the most current generation of razor available from Gillette. There are two different versions of the Fusion available: the Gillette Fusion, and the Gillette Fusion Power. All share the characteristic five blades on the front, and a single sixth blade on the rear that acts as a “precision trimmer.” In addition, the Fusion Power is battery powered and emits “gentle micropulses” that are claimed to increase razor glide. In February 2007, the Fusion Power Phantom was released which features a redesigned handle and a different color scheme than the original Fusion Power.

www.gillettefusion.com