06.07.2026 13:50
Budget airline EasyJet has reached an agreement in principle with US-based investment firm Castlelake for a purchase offer of approximately $7.3 billion. If the process is completed, the company will be delisted from the stock exchange and privatized. Following the deal, EasyJet shares surged to their highest level in 52 weeks, while regulatory and shareholder approvals are still pending for the offer to be finalized.
UK-based airline EasyJet, known for its affordable flights, has given in-principle approval to a purchase offer worth approximately £5.5 billion ($7.3 billion) from US-based investment firm Castlelake.
Following the development, EasyJet shares rose 10.5% on the London Stock Exchange, reaching their highest level in the last 52 weeks.
PLAN TO TAKE THE TARGET COMPANY PRIVATE
It was stated that Castlelake plans to delist EasyJet from the stock exchange and turn it into a private company. The investment firm reportedly increased its offer after a previous £4.93 billion bid was rejected, and has made five separate acquisition proposals for the company to date.
PROCESS NOT YET COMPLETED
The in-principle accepted offer includes a cash payment of $6.90 per share. However, it was noted that the deal has not yet been finalized, and the official offer process is expected to be completed pending regulatory approval. Castlelake has until 5:00 PM on August 3 to submit its formal offer or withdraw from the process.
SHAREHOLDER APPROVAL REQUIRED
If a formal offer is made, the acquisition will be subject to shareholder approval. It was reported that EasyJet's board has assessed the current financial terms as suitable for recommendation to shareholders.
EU RULES TO BE CONSIDERED
Under European Union regulations, airlines are required to have at least 51% European capital. It was stated that US-based Castlelake is working on a structure compliant with this regulation in the potential acquisition process.
EASYJET OPERATES IN 35 COUNTRIES
EasyJet, with over 19,000 employees, operates on approximately 1,200 flight routes across 35 European countries. Despite increasing revenues, the company reported a pre-tax loss of £552 million for the six-month period ending March 31, due to rising cost pressures.