British low-cost airline; today in play as a takeover target
Airlines have adjusted summer schedules and are temporarily suspending select routes in August–September because jet fuel costs have surged since the Iran conflict closed key shipping lanes. Carriers including American, easyJet and others have reduced seats, delayed route launches or paused services; travelers are being offered refunds or rebooking and face higher fares and fees.
Jet-fuel shortages are disrupting travel systems, with airlines cancelling flights and diverting routes. Passengers are advised to be flexible, rebook when possible, and check policies on refunds, vouchers, and insurance. Regulators warn disruptions could persist as fuel availability tightens.
The Guardian, Independent and Scotsman report that Castlelake has flagged a potential takeover of easyJet at no less than 403.23p per share, valuing the airline at about £3.06bn, while easyJet calls the approach highly opportunistic and notes ongoing regulatory and execution challenges.
A string of aviation incidents has triggered renewed safety questions. A British Airways flight experienced a cell phone fire on board but landed safely; other incidents include a Turkish Airlines wing collision and an American Airlines lightning strike. Aviation bodies emphasize carrying devices in carry-on luggage and evacuations rules.
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.
Ocado is facing questions over Tim Steiner’s pay and potential succession amid a slide in its share price to below its 2010 flotation level. The board is considering replacements as shareholders voice concerns over pay proportionality and performance.
Markets are stabilising after a stretch of high activity in tech options, with traders shifting focus as implied volatility cools. Small caps are leading potential next moves, while global equities reflect a policy-led, carry-friendly regime.
Prologis has made an all-share approach worth 925p a Segro share, valuing Segro at about 3.6bn. Segro’s board has rejected the bid as “a long way short” of value, arguing the US bid undervalues the business. Shares have rallied on the news, while broader property stocks are buoyed by falling gilt yields and hopes of cheaper financing.
Sky has announced it will acquire ITV’s broadcasting and ITVX operations for £1.6bn, creating a major UK challenger to global streaming platforms. ITV Studios remains independent, and a long-term content-supply deal will see ITV Studios provide content to the merged group. Regulators will review the deal, which includes potential contingent payments based on advertising performance.
Readers are confronted with firsthand accounts of travel mishaps from the Independent and The Guardian, detailing family trips that spiral from ordinary to chaotic, and a New York City escape that turns into a hospital odyssey.
Flights from Gatwick were diverted after a late-night technical fault prompted a temporary runway closure. Several planes landed safely at alternate airports, with passengers facing delays and disrupted onward travel; authorities emphasise safety as the priority.
Ryanair has reported a 34% drop in after-tax profits for the April–June quarter, with earnings squeezed by surging jet-fuel prices and a 6% fall in fares. Passenger numbers rose modestly as the airline cut prices to spur demand, while management warns that results will remain highly sensitive to external shocks like Middle East conflict and fuel costs.
A Ryanair-operated Boeing 737-800 has suffered a window blowout and cabin decompression during a Thessaloniki–Memmingen flight. The plane has returned safely to Thessaloniki, with one passenger receiving medical care. The NTSB has taken charge of the probe, with Greece participating, while Ryanair defends its safety record.
Mitie has accepted an offer from OCS Group valuing the company at about £3.1 billion, with shareholders set to receive up to 221.6p per share in cash and dividends. The deal, subject to shareholder and court approval, aims to accelerate growth and expand service capabilities. OCS Group would add Mitie’s 84,000-strong workforce and key contracts across government, NHS, transport hubs and airports to a larger UK facilities-management platform.
EasyJet has reported a sharp drop in pre-tax profits for the quarter, hit by a surge in jet-fuel costs following the Middle East conflict. The group says bookings remain volatile and its takeover battle in the background continues to unfold as two US private equity firms vie for ownership.
Emirates has unveiled the U-Dream, an adjustable headrest designed to support the neck and head, rolling out across economy on A350s and expanding to A380s and 777s by 2027. The feature aims to improve comfort on long-haul flights, with pilots and crew highlighting reduced neck strain and the elimination of traditional neck pillows.
JetBlue has overhauled its pricing, introducing a Base fare alongside Standard and Flex options across Main, Even More and BlueFirst cabins. Mint remains excluded from Base. The move follows rivals United and Delta in unbundling premium travel, offering cheaper options while preserving some benefits. The change aims to give travelers more choice but may see additional charges for previously included services.
NATS has received a threat about a Qatar Airways flight, prompting police, the RAF, and airport authorities to respond. RAF Typhoons were scrambled from Lincolnshire to intercept the aircraft; it landed safely with no threat to passengers. A 14-year-old from Bolton, not on the flight, is assisting investigators.
Jetstar has introduced a size-based carry-on policy, charging for overhead locker space from February 2027. Each booking includes one small item; larger bags incur fees between AUD 25 and AUD 52 depending on route. The change aims to streamline boarding and reduce delays, with mixed reactions from travellers and analysts.
July PMI data show the UK construction sector is stabilising after a downturn, with PMIs indicating slower contraction across all subsectors. Housebuilding led the improvement, while civil engineering remains the weakest link. New orders declined at the slowest pace since 2025, and input costs cooled.
Tui has seen a sharp drop in pre-tax profits in its third quarter as fuel costs rise amid the Middle East conflict. The group reports weaker bookings and higher costs, but notes some signs of recovery in demand and continued price pressure.
Apollo has won the bid to take EasyJet private at 715p a share, valuing the carrier at about $7.7 billion. Castlelake has withdrawn, clearing Apollo to move forward. The deal is expected to complete by Q1 2027, with Stelios Haji-Ioannou and family retaining shares. Shareholders face a vote and delisting of EasyJet.
Harvey Nichols has been put up for sale and is undergoing a turnaround led by Frasers Group. The six-storefront estate, including Edinburgh’s flagship, will continue operating while a broader restructuring is pursued, with potential integration of Flannels and the wider Frasers luxury ecosystem.
Mount Etna’s ongoing eruption has kept Catania airport closed or operating under strict restrictions, disrupting nearly 2,000 flights over the past week, with passengers rerouted to other hubs and price pressures rising during Ferragosto travel. Authorities warn ash emissions will continue to affect air traffic in the region.