British low-cost airline easyJet may scale back its fleet growth plans if the economic climate worsens during 2009, it said on Thursday, echoing demands made last year by founder Stelios Haji-Ioannou.
The carrier, which raised its first half revenue forecast last month, said the global downturn would see it adopt a cautious approach to growth and that it would monitor the situation on a monthly basis.
"This fleet plan... may change if the macro environment worsens in the next 3 to 6 months," Chairman Colin Chandler told the group's annual meeting for shareholders.
EasyJet currently plans to expand its fleet to 197 planes by 2011 from 165 as of September last year and has placed a major order with Airbus.
Haji-Ioannou said last week he was concerned about the airline's prospects for this summer and had urged its fleet growth to be capped. A source close to the entrepreneur said on Thursday that he now felt more at ease with the carrier's position.
"Stelios is very comfortable with this statement. It acknowledges the concerns he has been raising over the past several months," the source said.
"You can read this in one of two ways -- either the management team is kow-towing to Stelios, or this is a recognition of the current economic environment. It's probably a bit of both," said Andrew Fitchie, transport analyst at Collins Stewart.
Chandler reiterated the carrier's most recent guidance that forward bookings were currently in line with last year, and confirmed he plans to retire.
"We have begun the search for my replacement as I approach my 70th birthday. We shall report further over the coming year," he said.
