easyJet reported a 70% slide in Q2 pre-tax profits to £85m, primarily due to a £105m increase in fuel costs from the Middle East conflict and a trend of later customer bookings. The airline's agreed £5.7bn takeover by Apollo Global Management faces potential EU ownership rule scrutiny.
Frontier Airlines and four other budget carriers, including Mexico's Volaris and Europe's Wizz, will introduce SpaceX's Starlink in-flight Wi-Fi starting early 2027, marking another significant win for the satellite internet provider.
EasyJet's board has accepted Apollo Global Management's cash offer of £7.15 per share, valuing the airline at £5.7 billion, surpassing Castlelake's previous bid. The airline faces regulatory hurdles within EU law regarding ownership and control.
EasyJet's board is criticized for accepting a £5.5bn takeover offer from Castlelake at 690p per share, seen as an undervaluation despite the premium. Analysts argue the airline has strong assets and a clear path to higher profitability, suggesting the board gave up too easily.
EasyJet's board is criticized for accepting a £5.5bn takeover bid from Castlelake at 690p per share, seen as a sign of timidity. Despite recent challenges, the airline has a clear path to increased profitability and strong assets, suggesting a higher valuation is achievable.
EasyJet shares surged over 10% after the British airline announced an agreement in principle with US investment firm Castlelake on key financial terms for a potential takeover valued at over £5 billion. Castlelake's latest offer is £6.90 per share, though a binding offer has not yet been made.
US investment firm Castlelake has publicly announced a £4.7bn ($4.7bn) all-cash takeover proposal for easyJet, after the budget airline's board rejected three previous offers. Castlelake aims to acquire easyJet before a Friday deadline and has partnered with EU investors to comply with regional ownership rules.
easyJet shares rose over 12% after US firm Castlelake confirmed early-stage consideration of a takeover bid. The airline's board will evaluate any proposal, prioritizing shareholder value and considering current market conditions and execution challenges.
EasyJet has called a potential takeover approach from US investment fund Castlelake "highly opportunistic," noting the bid comes as its share price is depressed by Middle East conflict concerns. Castlelake values the airline at a minimum of £3.06bn.
Budget airline easyJet has dismissed a potential takeover approach from US investment fund Castlelake as "highly opportunistic", stating it has not held talks. Castlelake revealed it is considering an offer of at least 403.23p per share, valuing easyJet at a minimum of £3.06 billion.
Ryanair CFO Neil Sorahan expressed confidence in avoiding summer jet fuel shortages, despite Middle East conflict fears. However, he warned late bookings could lead to higher fares, with prices expected to be flat this summer. The airline reported record profits but suspended 2027 guidance.
Allegiant Air has finalized its $1.5 billion acquisition of Sun Country Airlines. The merger combines the two low-cost carriers to expand their network and revenue streams, including cargo and charter services, following the recent collapse of Spirit Airlines.
SEOUL, May 10 (Yonhap) -- South Korean low-cost carriers have cut 900 round-trip...
Spirit Airlines has ceased operations after canceling thousands of flights this weekend, marking the end of a budget carrier that hadn't turned a profit since 2019. The airline cited a sharp rise in oil prices stemming from the US-Israeli conflict with Iran as the final blow to its struggling business. Transportation Secretary Sean Duffy blamed the Biden administration for blocking a proposed merger with JetBlue, while Senator Elizabeth Warren defended the decision, noting a Reagan-appointed judge ruled the deal illegal.
Ryanair will require all airport check-ins and bag drops to be completed one hour before departure instead of the current 40-minute deadline, effective November. The change aims to give passengers more time to clear security and passport control amid increased queues from Europe's new Entry-Exit System. About 20% of passengers who check bags at airports will be affected, while 80% who check in online will be unaffected.
