easyJet extends Castlelake bid deadline

easyJet has extended the deadline for Castlelake to decide whether to make a formal takeover offer, giving the private equity-backed bidder until 7 August to match the timetable already set for rival suitor Apollo Global Management, according to a report by the Wall Street Journal.

The extension aligns the deadlines for both parties, allowing each bidder until the end of the week to either submit a firm offer for the UK-listed airline or withdraw from the process.

The move follows Apollo’s improved $7.6bn proposal, which overtook an earlier approximately $7bn agreement reached with Castlelake, the US-based private equity and aircraft leasing investor.

Apollo’s proposal represented a substantial premium to easyJet’s share price prior to the start of the offer period, underscoring the strategic value attached to one of Europe’s largest low-cost carriers.

The competing bids highlight continued private capital interest in aviation assets, particularly airlines with established route networks and attractive airport slot portfolios. easyJet’s extensive portfolio of take-off and landing rights at key European airports is viewed as one of its most valuable strategic assets.

Any acquisition, however, would take place against a challenging backdrop for the aviation industry. Airlines continue to contend with heightened geopolitical uncertainty, volatile fuel costs and operational disruption linked to the conflict in the Middle East, factors that have weighed on investor sentiment across the sector.