EasyJet: News, Fleet Updates & Global Discussion

[Aviador]

US private credit giant Castlelake has launched a highly opportunistic, multi-billion-pound potential takeover bid for easyJet.

What will this mean for the future of easjet if the takeover goes ahead?

 

[rollo]

European Cargo have been put into administration this evening. 😳

 

[Qing4theloo]

Castlelake have now increased their offer by over 50% compared to the original one.

US firm goes public with £4.7bn proposal to buy easyJet after earlier bids rejected

Investment company Castlelake made bid public for shareholders to evaluate but carrier describes offer as ‘cheap’

www.theguardian.com

 

[Silvercity]

I have noticed Easyjet have altered / reduced or suspended certain routes over the winter period from Liverpool, so therefore I imagine elsewhere too, typically Jan/ Feb. This could be as result of fuel increases due to Iran conflict, cost of living crisis ( i.e less passengers ) also the take over bid.

 

[Sherburnflyer92]

Or the fact January and February are some of the weakest months for travel (exception February half term) and some of the routes or frequencies dropped at mid week again the weakest days to travel in winter.

Protect against losses.

 

[Silvercity]

there is certainly something going on this winter which has not been present before whatever the cause. I had an Easyjet cancellation for January , but was able to switch to Ryanair easily.

 

[Silvercity]

There still seems to be a lot of changes and updates going on. For example Liverpool to Seville which starts in August, is now running through to June 27, so far.

 

[rollo]

Latest on the potential takeover of EasyJet is Castlake have made a 4th offer of £4.9 billion which is rejected.
The bid deadline under stock market rules is 5pm. today ( put up or shut up) and Castlake cannot bid again for 6 months.

However EasyJet have indicated that a further offer would be considered and would give Castlake limited access to financial information. Significantly EasyJet have requested the regulator to extend the time period for offers from today until 5th July which normally is a formality.

Beginning to look more likely than not?

P.S.
Castlake have appointed two EU citizens formed a joint European company which negates EU ownership rules giving Castlake effective control. 🤔

 

[rollo]

Easyjet and Castlake have agreed a deal in principle worth £5.2 billion

Castlake are to carry out due diligence to be completed in August subject to that EasyJet will put it to the shareholders to vote and if they vote in favour Castlake will delist EasyJet from the stock market and it will become a private company.

The resulting company will be 49% owned by Castlake and 51% by a newly formed Irish company owned by two experienced aviation professionals, Castlake will have effective control.

 

[Sherburnflyer92]

I don’t like nor trust this. Asset stripping?

 

[KARFA]

I don’t like nor trust this. Asset stripping?

castlelake own an aircraft leasing finance arm. easyjet own about 50% of their fleet and have a valuable position in new aircraft orders. no one is buying an lcc based on the traditional revenue from passengers.

 

[rollo]

They also recently (January I think) sold another aircraft leasing outfit for £5 billion which theoretically covers the EasyJet purchase if it goes through.
They have a pretty wide aviation portfolio and not a bad reputation for example along with the Danish government and the AF/KLM group they purchased SAS who were basically bankrupt a few years back, revived them and then SAS were merged into the AF/KLM set up under who they are now flourishing.

In further information re Castlake they themselves are ultimately owned by Brookfield Asset Management a Canadian multinational organisation quoted on both Toronto and New York stock exchanges.

 

[Finger66]

It's all quite interesting this. easyJet have made some very strange route announcements just recently which includes some cutting back at LBA (yes I am biased) but think the axing of GVA, AGP and PMI from LBA is not too much about whether they are profitable, but are they profitable enough, based on the Castlelake takeover. There were some awful timings, especially on GVA which never really gave it a chance. Yet they launch GVA from is it IOM and NQY - admittedly no competition like there is at LBA. But it does make you wonder if (and I say if) there is any desperation at play here. Let's hope for all concerned this does prove positive as not many people are seeing it as such just at the moment. Definitely a space to watch......

 

[KARFA]

You just have to look at their results last year and this year so far. This is not a currently profitable company - and this pre dates any fuel price increases (I don’t know what their hedging position is or whether they have been impacted in 1H 2026). The routes changes are clearly an attempt to get back to profitability by chopping lower yielding routes.

You either sort yourself out as a company or someone will come in and do it for you in a way you might not like.

 

[Aviador]

A massive twist this morning as a full blown corporate bidding war erupted over easyJet.

US private equity giant Apollo has completely gatecrashed the sale with a superior £5.7 billion rival bid at £7.15 per share, prompting the easyJet board to instantly ditch Castlelake and recommend this new offer instead.

This pushes the buyout price to a massive 81% premium from where the shares sat back in May. Apollo has reportedly already stated they will take 'all necessary steps' to handle the incredibly strict EU ownership and Brexit regulatory hurdles, but it completely changes the game just as the previous deal looked done.

 

[rollo]

Interesting development and will ithis develop into bidding war, markets target price (fair value ) is currently £6.50 so already a decent premiumr and no doubt others are watching.

Just a thought that IAG have been mooted in the past as potential bidders and the temptation for BA to have domination at Gatwick along with Heathrow might be too good to resist and of course IAG would have no issue with EU regulations although the UK Monopolies Commission may have something to say.

Bit of a left field thought but I recall the takeover by BA of British Caledonian way back. 🤔

 

[Sherburnflyer92]

Interesting development and will ithis develop into bidding war, markets target price (fair value ) is currently £6.50 so already a decent premiumr and no doubt others are watching.

Just a thought that IAG have been mooted in the past as potential bidders and the temptation for BA to have domination at Gatwick along with Heathrow might be too good to resist and of course IAG would have no issue with EU regulations although the UK Monopolies Commission may have something to say.

Bit of a left field thought but I recall the takeover by BA of British Caledonian way back. 🤔

Maybe they take a handful of slots / aircraft at Gatwick.

Maybe even Jet2 take some slots / aircraft from Gatwick too. Bit left field like.

 

[Finger66]

A massive twist this morning as a full blown corporate bidding war erupted over easyJet.

US private equity giant Apollo has completely gatecrashed the sale with a superior £5.7 billion rival bid at £7.15 per share, prompting the easyJet board to instantly ditch Castlelake and recommend this new offer instead.

This pushes the buyout price to a massive 81% premium from where the shares sat back in May. Apollo has reportedly already stated they will take 'all necessary steps' to handle the incredibly strict EU ownership and Brexit regulatory hurdles, but it completely changes the game just as the previous deal looked done.

Maybe, just maybe, LBA-PMI/AGP/GVA all pulled too early! Apologies - no bitterness there at all in that comment!

 

[Jerry]

Interesting development and will ithis develop into bidding war, markets target price (fair value ) is currently £6.50 so already a decent premiumr and no doubt others are watching.

Just a thought that IAG have been mooted in the past as potential bidders and the temptation for BA to have domination at Gatwick along with Heathrow might be too good to resist and of course IAG would have no issue with EU regulations although the UK Monopolies Commission may have something to say.

Bit of a left field thought but I recall the takeover by BA of British Caledonian way back. 🤔

IAG is a European group. Easyjet is also a European group. The EU would have a say.

 

[rollo]

Easyjet actually is a UK company Corporate Headquarters registered and based in England and quoted solely on the London stock exchange. Easyjet Europe based in Vienna and Easyjet Switzerland based in Basle have a significant operational control but overall policy and control rests in the UK.

IAG in contrast are a joint Anglo/Spanish group quoted in both countries Corporate Headquarters in London Heathrow but the company is registered in Spain similar arrangement to Shell who are Anglo/Dutch.

You are correct Jerry in that the EU will therefore have a say on any sale but I think it woud be on competition concerns rather than ownership.

Of course it's all theoretical based on IAG having any interest in the first place in EasyJet.