Just after the budget airline releases its final results tomorrow, all attention would be shifted from easyJet's 15th birthday to the Chief Executive Carolyn McCall's plans for the future.

She is due to give an outline of her strategy for the future. A deal has been struck between the two parties which is said to have created great confusion in the beginning.

A recent row with easyJet's founder, Sir Stelios Haji-Ioannou has been resolved and hence the Company will now not be asked to change its branding.

The Irish accounts maintained airline Ryanair expressed on Thursday that it has nodded to shell out to make slander damages to the originator of competing carrier easyJet for fallaciously blaming him of stifling the reports regarding the company's performance.

Sir Stelios Haji-Ioannou of easyJet has taken legal action against Ryanair as the ads which blamed him of obstructing the publication of weekly reports on easyJet's on-time concert. The ad, that depicted Stelios with as a snob, reiterated him to stop lying.

Luton-based budget airline Easyjet has announced that it would fit its planes with radars that can detect volcanic ash clouds to avoid future airspace closures. The new technology, AVOID (Airborne Volcanic Object Identifier & Detector), will make use of infrared beams to detect ash particles in the air. It will help pilots to know whether to fly or not.

Budget airline EasyJet has downgraded full-year forecast because of the disruptions it had to face last month due to Icelandic volcano.

The company said that flight cancellations forced by volcano ash clouds in April would cost it between 50 million pounds and 75 million pounds. It downgraded full-year forecast from between 175 million pounds and 200 million pounds to between 100 million pounds and 150 million pounds.

Shares in EasyJet slipped after the investment bank UBS downgraded the carrier from "buy" to "neutral", citing valuation grounds.

The UBS said that over the past 12-month period shares in EasyJet outperformed Ryanair shares by more than 25 per cent. Moreover, EasyJet surpassed Ryanair by more than 10 per cent since the start of current year.

Shares in British low-cost airline were trading at 407.5 pence, down 4.5 pence-a-share. Shares in Ryanair were trading flat at €3.45 in Dublin.

Sir Stelios Haji-Ioannou, the founder of Easyjet, has said that he would take a legal action against rival carrier Ryanair’s chief executive Michael O’Leary over an advertising campaign that tried to defame him by depicting him with a Pinocchio-style long nose.

In its recent advertising campaign, the Irish-carrier Ryanair insinuated that the Luton-based Easyjet lied about its punctuality statistics by depicting Sir Stelios Haji-Ioannou as a Pinocchio figure.

Official announcements by Easyjet have confirmed that the carrier will soon begin to offer regular flight between Liverpool and the Isle of Man. Starting 21 May, the company, with a base at the John Lennon airport, will be offering the sic-times-a-week flights.

The new flights have been designed to especially target business people and those who regularly visit families on the island, and the service will directly compete with rival budget operator Flybe.

Official reports have confirmed that owner of EasyJet, Sir Stelios Haji-Ioannou is all set to slap a lawsuit on Michael O’Leary, accusing the Chief Executive of Ryanair of "despicable behavior”, all thanks to an advertising campaign which characterized the Greek entrepreneur as Pinnochio, thereby implying that he had lied about EasyJet’s punctuality statistics.

British budget airline EasyJet announced on Thursday that its first quarter revenues jumped 10.5 per cent to settle at 607.5 million pounds, providing fresh evidence that global recession has faded away.

Revenue per seat jumped 4.2 per cent to settle at 47.50 pounds during the quarter ended December 31.

The number of passengers during the concerned three months soared to 11 million, representing an increase of 9.1 per cent from year ago period. The load factor showed improvement of 1.4 per cent to 85.5 per cent.

Andy Harrison, the chief executive of the low-cost airline Easyjet, is to step down at the end of June.

Including Andy Harrison, five senior executives have left the airline in wake of a boardroom battle with founder Stelios Haji-Iannou.

The airline said that Mr. Harrison would not leave until the end of next June to give it time to find a successor.

Director Stelios Haji-Iannou had opposed Easyjet’s expansion plans and advocated preserving cash during the economic downturn.

Low cost airline EasyJet has announced plans of closing its base at the East Midlands Airport as well as cutting back on 20% capacity at its home base at the London Luton Airport, in order to tighten costs.

British low budget airline easyJet has posted a huge drop of over 50% in its full-year earnings for the year up-to September end. Rapidly rising fuel costs have been blamed by the carrier for the loss. The airline recorded earnings of ?54.7 Million for the current full-year, a substantial drop from the ?110.2 Million recorded for the same period last year.

Hundreds of workers may lose their jobs as the low-cost airline easyJet Plc has plans to close its East Midlands Airport operation and axe 20 per cent of its flights from Luton Airport in London.

The budget airline has shifted its focus to Gatwick plus continental airports under its plans to spread out in those markets.

However, EasyJet has plans to keep its headquarters at Luton.