EasyJet Rejects Castlelake Takeover Offer

EasyJet has rejected a roughly $6.2 billion buyout offer from U.S. investment firm Castlelake after its board voted unanimously against the proposal. The latest bid valued the carrier at about £4.7 billion, or £6.25 per share, and would have given Castlelake a 49 percent stake while leaving 51 percent with EU nationals and other undisclosed investors. ## Details of the Rejected Offers Castlelake submitted three successive proposals at £5.60, £6.00, and finally £6.25 per share. EasyJet disclosed that the most recent approach arrived on June 20 and included an alternative structure allowing some shareholders to receive unlisted, non-transferable, non-voting shares in a holding vehicle. The firm made the details public after claiming EasyJet had been unwilling to engage. Under U.K. regulations, Castlelake has until the end of this week to reach a deal. ## EasyJet Board Response In statements released after each approach, the board described the bids as highly opportunistic and said they failed to reflect the airline’s medium-term prospects, strong balance sheet, and capital structure. Officials noted that Castlelake’s valuation relied primarily on a share price depressed by the war in Iran and the continuing oil shock. The board also expressed reservations about the opaque ownership structure, elevated leverage, and overall conditionality of the proposal. Shareholders have been advised to take no action. ## Fleet Renewal Context EasyJet highlighted its ongoing fleet modernization as evidence of long-term value. The carrier plans to take delivery of 90 Airbus neo-family aircraft through fiscal 2028 while retiring 79 older A319s. Seventeen of the new aircraft are scheduled for fiscal 2026, with the remaining 73 arriving in fiscal 2027 and 2028. Management stated that these changes will increase average seat capacity and improve unit economics. ## Castlelake Background Castlelake entered the aviation sector last year through its lending entity Merit AirFinance. Earlier this year the firm reportedly held talks with Spirit, though no transaction occurred and Spirit ceased operations in May. The current EasyJet effort marks Castlelake’s third formal approach since it first expressed interest earlier this month. [AirlineGeeks](https://airlinegeeks.com/2026/06/22/easyjet-rejects-castlelake-takeover-offer/) and [AirInsight](https://airinsight.com/easyjet-rejects-castlelakes-third-approach/) both reported the board’s rejection and the sequence of bids. [FlightGlobal](https://www.flightglobal.com/archive/2026/06/easyjet-dismisses-castlelake-offer-as-a-bid-to-buy-airline-on-the-cheap/) noted the carrier’s characterization of the offer as an attempt to acquire the airline on the cheap. Why it matters for AeroLink pilots: The board’s emphasis on medium-term earnings potential and the confirmed neo-family deliveries through 2028 provide a concrete signal of continued fleet modernization and network stability at the carrier.