EasyJet has firmly rejected a takeover bid valued at £4.74 billion from the US investment firm Castlelake, claiming the offer is an attempt to purchase the airline “on the cheap.” This bold statement comes after Castlelake revealed that it had made three separate takeover approaches to EasyJet this month, all of which have been turned down. In a surprising twist, the US company has made the details of its latest offer public, allowing shareholders to scrutinize the proposition. According to stock market regulations, Castlelake has until Friday to either submit a firm offer or withdraw from the negotiations entirely.
Now, let’s talk numbers—EasyJet is no small player. This airline is one of Europe’s largest, having transported over 90 million passengers last year alone. With operations spanning 38 countries and more than 1,200 routes, it’s a significant player in the aviation game. The airline reiterated its stance, labeling Castlelake’s offer as “highly opportunistic.” They argue that their share price has been “temporarily depressed,” partially due to the ongoing impacts of the Iran war on the travel industry.
Under Castlelake’s latest proposal, shareholders would be looking at receiving 625p per share, which is a generous 24% premium compared to last Friday’s closing price. The US firm, which currently holds around 2.14% of EasyJet through its managed funds, insists that its bid “offers compelling value” for the airline’s investors. In a statement, Castlelake expressed its intentions: “Following the rejection of three proposals by the EasyJet Board, and given its unwillingness to engage meaningfully, we are announcing this Third Proposal to allow EasyJet shareholders to evaluate its merits.”
The ambition from Castlelake is to bolster EasyJet as a stronger and more resilient European airline, but it’s crucial to note that European Union regulations dictate that the airline must be majority-owned by EU citizens. In light of this, Castlelake has suggested an ownership structure that it claims is a “deliverable solution” to ensure compliance with all applicable regulatory requirements. This proposal involves entering into a partnership with two EU nationals, businessmen Peter Bellew and Mark Breen, who would own an EU-based company holding majority control of the airline.
Peter Bellew is no stranger to EasyJet—he’s a former chief operating officer who also has a history with Ryanair. He left EasyJet in 2022 during a turbulent phase that saw staff shortages and major disruptions, including a wave of cancellations. Mark Breen, on the other hand, operates an aerospace consultancy and has held significant roles at various airlines, including several in the Middle East.
Despite the proposed ownership structure, EasyJet has criticized it as “opaque,” indicating that it does not provide a clear basis for evaluating the feasibility of the takeover plan. Meanwhile, the backdrop of thousands of Brits left stranded in the Middle East when the US-Iran conflict erupted in early 2026 adds an extra layer of complexity to the travel situation, making the stakes even higher.
As the situation develops, a consultation has been initiated regarding the Heathrow expansion, specifying conditions that must be met for the project to proceed. Interestingly, there’s also a scheme underway that promises free travel on London’s public transport for those aged over 66—a nice touch amidst all this corporate drama.
So, what’s next for EasyJet? Will Castlelake make a firm offer, or is this just another chapter in the ongoing saga? Stay tuned, because this is far from over…
Kaynak: Orijinal Haber