NEWS Easy Group has admitted losses of £75m relating to heavy investment in interests outside the company's core airline division, accumulated over the past three years.
A particular loss-maker has been the group's internet café division, though Stelios Haji-Ioannou, the group's charismatic chief, believes it will not take much further investment before the venture hits profitability.
Last year Haji-Ioannou rescued his internet café business from bankruptcy with further investment of £15m - on top of £65m he had already invested - but believes his faith in the venture will start to be repaid soon.
Haji-Ioannou told the Financial Times he expects the chain of internet cafés to start making money this year.
For related news, see:
easyJet set to hit online
Easy group eyes profits from café society
Planes continue to look down on the black sheep of the easy family... but for how much longer?
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