French-Dutch airline group; Air France, KLM, Transavia; hubs Paris CDG/Orly, Amsterdam Schiphol
Global airlines face a sharp rise in jet-fuel costs as conflict in the Middle East pushes up oil prices. IATA now forecasts profits will fall sharply in 2026, driving airlines to raise fares and adjust routes while governments seek safety measures.
Castlelake has publicly unveiled a third 625p-a-share offer for easyJet, arguing it offers compelling value. EasyJet has rejected the bid as opportunistic and undervalued, and Castlelake is taking the proposal to shareholders ahead of the Takeover Panel deadline. Several caveats about EU ownership structure and regulatory hurdles accompany the stake expansion.
EasyJet has agreed in principle to a £5.5 billion takeover by US investor Castlelake, valuing the carrier at £6.90 a share. The board says it would be minded to recommend a firm offer should one be tabled. Deadline for a formal bid is August 3.