British airline easyJet has agreed in principle to a takeover by the American investment fund Castlelake. The deal, valued at £5,5 billion (approximately €6,4 billion), remains subject to the submission of a firm offer expected by August 3. The board of directors has expressed its support for this proposal after rejecting several previous offers.
Castlelake's proposals, long considered insufficient, were rejected when easyJet was going through a difficult period, marked in particular by rising fuel costs linked to tensions in the Middle East. This new offer could lead the company to withdraw from the financial markets, where its valuation was under pressure.
A strategic player in European air transport
As Europe's second-largest low-cost carrier after Ryanair, easyJet holds highly sought-after slots at several major European airports, including London Gatwick Airport, Paris Charles de Gaulle Airport, Paris Orly Airport, and Geneva Airport. Its fleet of approximately 350 Airbus A320 family aircraft is also a major asset for Castlelake, which already has a significant presence in the aircraft leasing sector.
To comply with European regulations applicable to air carriers, the plan stipulates that 51% of the capital be held by a structure controlled by European investors. The consequences of this operation on easyJet's approximately 19,000 employees have not yet been specified.
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