Stelios Haji-Ioannou has significantly raised his stake in easyJet, the low-cost British airline he founded 13 years ago, to pressure the board into paying a maiden dividend despite an economic slowdown, a statement said Friday.

Stelios has hiked his stake to 27 percent from 16 percent after purchasing shares owned by his sister. The increase was seen as an attempt by Stelios to push through a fundamental change in the way the company operates, putting him at odds with the board.

The easyJet founder wants the company to start paying dividends to shareholders for the first time in its history as the airline scales back growth plans as Britain heads for recession.

The stake increase meanwhile permits Stelios and easyGroup, the parent company of easyJet, to appoint two nominees to be non-executive directors on the company`s board.

In the event the directors are not appointed, Stelios reserves the right to appoint himself as chairman.

EasyJet added in its statement: `There has been an ongoing discussion at the board over the strategic direction of the company in relation, amongst other things, to the future expansion of the company`s fleet against the backdrop of the current macro-economic climate.

`The board has sought to adopt a cautious approach to fleet growth given the direction of economic indicators in its core market and has taken steps to conserve cash, reduce growth plans and dispose of surplus aircraft.

`Despite the board`s already cautious approach, Sir Stelios has indicated that he wishes the company further to restrict future aircraft orders, to make future dividend payments in conjunction with a cessation or slowing of growth,` the statement added.

Current easyJet chairman Colin Chandler said he expected a `continuing dialogue` with Stelios to resolve the `strategic debate` over the company.

Earlier on Friday, Virgin Atlantic, the British airline owned by tycoon Richard Branson, said it was in talks with easyJet about forming a consortium that would bid for London`s second biggest airport, Gatwick.

The Times newspaper had reported on Friday that the pair were in talks with financial backers about forming a bidding team.

Analysts have estimated that the sale of Gatwick could fetch up to three billion pounds (3.48 billion euros, 4.42 billion dollars).

Britain`s Spanish-owned airport operator BAA announced in September plans to sell London`s Gatwick hub after regulators called for the offloading of two of its airports on competition grounds.