The ongoing saga regarding the potential acquisition of easyJet by investment firm Castlelake registered new developments on June 25, 2026. The orange-liveried low-cost airline offered its suitor a period of nine days to revise its proposal after rejecting its latest bid of £6.5 per share in cash.
During this period, Castlelake and its advisors will have expanded access to the airline’s financial and operational information.
The suggestion was immediately welcomed by Castlelake, which is expected to revise its bid upwards in order to secure the approval of easyJet’s board.
In a public statement published on its website, easyJet reiterated that the board’s rejection of Castlelake’s £4.9 billion bid (US$6.5 billion), which was made public on June 23, 2026, as it considers it to seriously undervalue the business.
In the statement, easyJet reminded its would-be acquirer that the airline is not only profitable, has a solid balance sheet and a net cash position, but it is also on track to deliver a profit before tax above the £1 billion mark (US$1.3 billion).
easyJet’s board also expressed concern about a protracted bidding process that may damage the airline financially. This is why, operating under the City’s financial regulations and the “put up or shut up” (PUSU) rules, the board has requested, and the Panel on Takeovers and Mergers has consented to extend the deadline an additional nine days. Castlelake is now required to submit the new bid by no later than 17:00 BST on July 5, 2026.