Budget airline easyJet today announced a one-off dividend of £150m as it looks to cool a feud with its founder and major shareholder.

Sir Stelios Haji-Ioannou and his family own a 38% stake in the airline and stand to pick up around £57m as a result of the pay out, which easyJet said stemmed from better-than-expected trading.

The airline’s former boss, who stepped down from the board last year, has attacked easyJet’s expansion plans and called for cash to be returned to shareholders.

The one-off payout is on top of £40m that easyJet said it will pay as its maiden dividend following 11 years as a stock-market listed company.