An Irish led consortium is expected to prepare a potential new offer to take over EasyJet. EasyJet has rejected four successive takeover proposals from US investment firm Castlelake, including the latest at €7.60 per share equivalent, which the board has described as still substantially undervaluing the airline and its future prospects.
The Irish led consortium involving former easyJet and Ryanair executive Peter Bellew along with aviation consultant Mark Breen, backed by Castlelake, has structured the approach to comply with European Union ownership rules that require majority control by EU nationals. Castlelake has now gained access to limited commercial data from easyJet in an effort to support a higher bid, and the deadline for a formal offer has extended to 05 July 2026. The market price for Easyjet shares has climbed to £5.83.
The easyJet board has unanimously turned down the approaches, viewing them as opportunistic and not reflective of the carrier’s strong position in the European low cost aviation market. easyJet operates more than 350 aircraft across over 1,200 routes in 37 countries and has demonstrated resilience and growth potential in the post pandemic recovery. Market observers note that the current share price trades below the rejected bid levels, which has led to speculation that the consortium will return with an improved proposal in the coming days or weeks. Castlelake’s bidding group includes Brookfield Asset Management
Prospects for easyJet remain positive amid its established network, fleet modernisation efforts, and position as a major player in European short haul travel. The airline continues to navigate competitive pressures from rivals such as Ryanair while benefiting from demand for affordable leisure and business travel across the continent. Any successful takeover would need to address regulatory approvals and ensure continued compliance with EU aviation ownership requirements, but the ongoing engagement suggests that a revised offer could emerge soon.
