Sir Stelios threatens Easyjet stake sale over plane deal 21 January 2013 Last updated at 16:37 Easyjet founder Sir Stelios Haji-Ioannou has threatened to sell more of his shares in the airline if it places an order for more aeroplanes. Sir Stelios said he and his brother and sister each sold 200,000 Easyjet shares last week, taking their combined holding to just below 37%. In an open letter to shareholders, Sir Stelios said the sale was intended as "a clear message to our directors." Easyjet declined to comment on the letter. Sir Stelios has been arguing against the airline's expansion since 2008. If the board places another order for aircraft, it will destroy shareholder value into the future. If they place such an order now I will be looking to dispose of more of my stake before this happens," Sir Stelios wrote. The low cost airline said last year that it was considering buying more aircraft, to replace some of its older planes or to expand flights into new areas. At the time, Easyjet said that it would ensure shareholders were consulted "and would have the opportunity to vote on any future new generation aircraft orders." However, Sir Stelios wrote: "Instead of ordering new aircraft, Easyjet should aim for a 10% profit margin, up from 1% four years ago and against the current level of 7%."