Take-off for easyJet £93m raiser

EASYJET boss Stelios Haji-Ioannou's brand of no-frills European air travel was given a ringing endorsement by international investors today.

Its stockbrokers successfully got away a £93m fund-raising exercise at a premium to the share price when the cash call was announced.

The share sale also saw Haji-Ioannou raise £48m by selling down about 10% of his stake in the airline he founded, reducing the family holding to about 60%.

He will use the funds to prop up his loss-making, privately-owned easyGroup internet cafes and car rental empire.

The company said the placing and open offer of 26m shares on a three-for-40 basis was sold by UBS Warburg and Credit Suisse First Boston at a price of 375p a share, a 2% discount to last night's 382 1/2p closing price but a 3.3% premium to the price before Monday's announcement.