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London, UK - British budget carrier easyJet has delayed deliveries of 24 Airbus A320neo jets that are due for delivery through 2020-2022.

The decision came after the EasyJet founder and largest shareholder Stelios Haji-Ioannou's request to drop or renegotiate a firm order for 107 A320neo jets. Ioannou had threatened the easyJet management with legal action and the removal of board members if the order hasn't been dropped.

According to the initial agreement with the European planemaker, easyJet was supposed to take delivery of ten Airbus A320neo in 2020, 12 in 2021 and two in 2022.  The airline is also said to delay or cancel the lease agreements for 24 A320 neo jets due to the ongoing global crisis.

“Exact dates of future deliveries of the deferred aircraft are to be agreed in response to the demand environment. Our industry is facing unprecedented challenges that require unprecedented action,”

easyJet CEO Johan Lundgren said.

“As we have consistently said, we remain completely focused on improving short-term liquidity and reducing expenditure across the business. Today, I am pleased to announce that we have agreed with Airbus to amend our delivery schedule by deferring the purchase of 24 aircraft, providing a significant boost to our cash flow and a vast reduction to our near-term CAPEX program,”

Lundgren added.

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