LONDON — EasyJet announced an agreement in principle on August 3, 2025, to accept a £5.5 billion takeover offer from the U.S. investment firm Castlelake. The proposed takeover price is £6.90 per share, which would take the company private. Castlelake has until 5pm on August 3 to make a firm offer or walk away.

This agreement follows EasyJet's rejection of a previous offer of £6.50 per share ten days prior, which the airline stated substantially undervalued the business. An earlier bid was valued at £5.60 per share. EasyJet's shares closed at £5.58 on Friday, giving the company a market value of £4.2 billion. The last time EasyJet's shares traded above £6.90 was in early 2022.

Castlelake, based in Minneapolis, Minnesota, specializes in asset-based lending, including leasing planes to airlines. The investment firm holds a stake in the Scandinavian airline SAS, which it obtained via debt restructuring. In a statement, Castlelake said it intends to support EasyJet's future growth and transformation if the transaction proceeds to completion. The firm also stated it has emphasized its tremendous respect for EasyJet and its people.

Castlelake said it is supportive of EasyJet's plans to buy newer planes to modernise its fleet and cut fuel costs. To comply with EU restrictions on airlines, Castlelake indicated it will set up a European holding company controlled by EU nationals. EasyJet is headquartered at Luton airport north of London and operates from 164 airports across 38 countries, employing 19,000 people. Kenton Jarvis, the chief executive of EasyJet, reported falling bookings in March 2025.

The agreement could result in a payment of nearly £800 million for Stelios Haji-Ioannou and his family, who own more than 15% of EasyJet. EasyJet is a member of Britain's FTSE 250 index. The investment bank Evercore advised EasyJet during the negotiations, while Goldman Sachs advised Castlelake.