Sir Stelios, a non-executive director speaking for 26.9% of the stock, has refused to sign off the company's annual accounts. He also seem to see a clear need to shift the airline’s strategy away from growth and towards conserving cash. He fears that if passenger numbers and revenue fall during the recession, the airline may be unable to meet its commitments, even though it has the ability to defer half the orders.
http://www.ft.com/cms/s/0/53e86aea-b9bc-11dd-99dc-0000779fd18c.html
Any thoughts of this on the implication for the stock? Is Stelios right and, even if he is, is this kind of bustup going to hurt the stock?
