Overview
EasyJet plc announced on 5 July 2026 that it has agreed in principle to a takeover proposal from Minneapolis‑based private credit firm Castlelake. The proposal offers £6.90 per share, valuing the airline at approximately £5.23 billion (reported as £5.2 billion), and represents the fifth and highest bid since Castlelake first approached the carrier on 29 May, having raised its offer from an opening 560 pence to the current 690 pence.
Share Price Context
EasyJet’s shares closed on Friday at 558.2 pence, implying a discount of roughly 20 % to the offer price.
Deadline Extension
The parties have extended the “put‑up‑or‑shut‑up” deadline to 3 August 2026, 5 p.m. London time, as per a joint statement cited by Bloomberg.
Strategic Intent and Partnerships
Castlelake indicated that it will work with Mark Breen and former EasyJet executive Peter Bellew—who left the airline in 2022—to support EasyJet’s future growth and fleet modernisation programme.
Core Assets
EasyJet’s core assets include a modern Airbus A320‑family fleet and prized landing slots at London, Milan and Geneva airports.
Recent Financial Performance
The airline’s first‑half FY2026 results showed an earnings‑per‑share of –£0.501, missing analyst forecasts of –£0.4345 by 15.3 %, with higher jet‑fuel costs linked to the Iran conflict and softer summer booking trends weighing on margins.
Shareholding
The Haji‑Ioannou family, founded by EasyJet founder Stelios Haji‑Ioannou, remains the largest single shareholder with a 15.3 % stake.