November 19, 2004
Britain's easyJet said on Friday it was not aware of any immediate plans by Icelandair to raise its stake in the low-cost airline following a meeting between major shareholders in the two carriers this week.
"We are hearing nothing at all. They have signalled their desire to be a long-term investor in easyJet and they have said they may add to their stake in the short term...," an easyJet spokesman said.
Icelandair Chairman Hannes Smarason met easyJet founder Stelios Haji-Ioannou in London on Wednesday after the Icelandic company bought a 10 percent stake in the UK carrier last month.
A spokesman for Haji-Ioannou's easyGroup said Smarason instigated the meeting but there were no major announcements arising from that.
Smarason owns 32.2 percent of Icelandair and Haji-Ioannou, along with his family, owns about 41 percent of easyJet.
An Icelandair spokeswoman said she was not aware of any immediate announcement on easyJet. Icelandair is due to release its third-quarter results later on Friday, she said.
Icelandair bought just over 10 percent of easyJet last month, fuelling talk of a possible takeover bid. The Iceland carrier has said the move was purely a long-term trade investment.
Reykjavik-based Icelandair is the country's largest company and is owned by about 5,000 Icelandic shareholders.
EasyJet will report annual earnings on Tuesday next week.
(Reuters)