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.
easyJet's board is now "minded to recommend" a £5.7bn all-cash offer from Apollo, valuing the airline at £7.15p per share. This follows a previous agreement in principle with Castlelake for a £5.5bn deal, which was later deemed undervalued.
EasyJet has agreed in principle to a potential £5.2bn takeover offer from US investment firm Castlelake. The airline, which previously rejected four bids, is considering a proposal worth £6.90 per share. Regulatory approvals and a shareholder vote are still required.
EasyJet and US investment firm Castlelake have reached an agreement in principle for a potential takeover offer of around £5.2 billion, valuing shares at £6.90 each. Regulatory approvals and shareholder votes are still required.
EasyJet has accepted a £5bn takeover offer from US investment firm Castlelake, which would take the FTSE 250 airline private. The offer of £6.90 per share comes after previous offers were rejected for undervaluing the company. Castlelake expressed respect for easyJet's employees and plans to support its future growth and fleet modernization.
Ryanair is under investigation by the UK's Competition and Markets Authority (CMA) over its mandatory fee for parents to sit with their children. The CMA will assess if this fee, typically £8 per flight, constitutes an unfair contract term under consumer law, as other airlines do not charge for this.
Ryanair reported a record after-tax profit of €2.26 billion for the year to March 2026, up 40%, while cautioning about oil price volatility and Middle East tensions. Passenger numbers rose 4% to 208.4 million, and revenue grew 11% to €15.54 billion. CEO Michael O'Leary highlighted fuel hedging as a key advantage.
Spirit Airlines pilot Jon Jackson's final flight was canceled when the low-cost carrier suddenly ceased operations on Saturday. His son, a Southwest pilot, arranged an impromptu retirement celebration upon landing at Baltimore-Washington International, complete with water cannon salute and champagne. Spirit Airlines, which had filed for bankruptcy twice, shut down after 34 years due to rising fuel costs linked to the US-Israel war on Iran.
Spirit Airlines has announced an immediate orderly shutdown after jet fuel prices jumped from $2.5 to $4 per gallon, becoming what a Kremlin envoy called the first airline victim of the historic energy crisis. Around 17,000 workers will lose their jobs. Bondholders rejected a Trump administration rescue proposal that would have provided $500 million and given the government a 90% stake in the company. The disruption in the Strait of Hormuz amid the US-Israeli war on Iran has sharply reduced tanker traffic, raising fears of the worst energy crisis in history.
Spirit Airlines has announced an immediate orderly shutdown after jet fuel prices jumped from $2.5 to $4 per gallon, becoming what a Kremlin envoy called 'the first airline victim of the historic energy crisis.' Around 17,000 workers will lose their jobs. The Trump administration offered a $500 million rescue plan with 90% government stake, but bondholders rejected it. The closure comes amid warnings from the International Energy Agency about severe energy disruptions from Strait of Hormuz tensions linked to the US-Israeli war on Iran.
Several US airlines have agreed to cap ticket prices for Spirit customers who need to rebook canceled flightsSign up for the Breaking News US email to get newsletter alerts in your inboxThe US secretary of transportation, Sean Duffy, has announced a series of measures to help Spirit Airlines passengers following the low-cost airline’s collapse early on Saturday after running out of cash and the failure of rescue talks with the Trump administration.Duffy said that larger US airlines, including United, Delta, JetBlue and Southwest, had agreed to cap ticket prices specifically for Spirit customers who need to rebook canceled flights, subject to a Spirit flight confirmation number and proof of payment. Continue reading...
Company had struggled to increase post-pandemic demand before war in Iran pushed up jet fuel costsSign up for the Breaking News US email to get newsletter alerts in your inboxSpirit Airlines has announced that it has gone out of business after the low-cost airline ran out of cash and a rescue attempt by the Trump administration appeared to stall.The airline that once operated hundreds of daily flights on its bright yellow planes and employed about 17,000 people said that after 34 years it had “started an orderly wind-down of our operations, effective immediately”. Continue reading...
