Shares in British budget airline easyJet fell over 2 per cent today as its founder, Mr Stelios Haji-Ioannou, sold eight million shares to help fund new businesses.
Mr Haji-Ioannou now holds around 18 per cent of the company's share capital following the sale, EasyJet said.
"As I have been consistently saying for a while, from time to time I will be selling a bit of my past to finance my future," Mr Haji-Ioannou said in a statement.
Mr Haji-Ioannou added that such disposals would help fund future projects, including budget bus and pizza operations called "easyBus" and "easyPizza". The entrepreneur has also set up a discount cinema business.
Shares were down 2.4 per cent at 242 pence sterling in morning trade.
EasyJet Finance Director Mr Chris Walton said the company did not know to whom Mr Haji-Ioannou had sold the shares or at what price.
