EasyJet chief pockets £3.3m

EASYJET chief executive Ray Webster cashed in £3.35m of shares today after being rewarded for driving through the budget carrier's takeover of Go.

Webster took advantage of a 13-month high in the stock to sell 1m shares at 335p. More than 150,000 of the shares were free, given to him and 18 key managers at the time of the 2002 Go acquisition, while another 500,000 were long-standing options granted at 161p. The rest were from his own private holding.

A spokesman said Webster cashed in the shares to pay off a loan arranged with UBS when he agreed to buy shares in easyJet at the time of his appointment by founder Stelios Haji-Ioannou.

However, the spokesman said the deal would also leave Webster with substantial 'pocket money'. ' Perhaps Mrs Webster wants a new bathroom,' he added.

The £400,000-a-year Webster has further significant holdings of shares and options in the airline which at today's price are worth around £14m.

Amir Eilon, who sits on the board as the representative of Haji-Ioannou after his resignation from the company last year, cashed in £870,000 of share options. He still holds options worth £5.5m.