Tag: $Easyjet

EasyJet stock soared Friday after the budget carrier said it is considering a $7.7 billion takeover bid from Apollo Global Management, putting the airline at the center of a private equity bidding war.

Shares in ‌easyJet rose 11.4% on Monday after the budget airline agreed in principle to a £5.5 billion ($7.34 billion) takeover from Castlelake over the weekend but were under the bid price as investors worried the deal might struggle to secure approval.

EasyJet has rejected a third, £4.7bn offer from Castlelake, prompting the US private credit group to go public with its bid.

EasyJet’s stock fell on Thursday after the European airline warned the Iran war and higher fuel prices are weighing on customer bookings.

EasyJet shares fell after the U.K. budget airline flagged weakening revenue trends in its fiscal second quarter, despite reporting an improved first-quarter performance.

Spain’s Ministry of Consumer Rights on Friday slapped a $179 million euro ($186 million) fine on five low-budget airlines for “abusive practices” including charging additional cabin luggage fees.

British airline easyJet said it was confident ahead of the summer season, when it makes all its profit, helped by strong booking levels, higher ticket prices and the growth of its holidays business.