EasyJet to be taken private by Castlelake in £5.5bn deal

easyJet has announced that it will accept a £5.5 billion takeover offer from the U.S. investment firm Castle Lake, a move that will take Britain’s largest low‑cost carrier private. The parties reached an agreement in principle on Sunday evening and have requested an extension to the deadline for finalising the transaction. The deal follows a series of negotiations in which several earlier offers were rejected by easyJet’s board.

The agreement marks the culmination of weeks of talks between the airline and Castle Lake, which has previously expressed interest in acquiring a controlling stake. By agreeing to the takeover, easyJet will transition from a publicly listed company to a privately held entity, potentially allowing the new owners to implement strategic changes without the scrutiny of public markets. The extension request gives both sides additional time to complete regulatory reviews and shareholder approvals.

If the deal closes, Castle Lake will become the sole owner of easyJet, reshaping the competitive landscape of the European low‑cost airline sector. The transaction is expected to proceed once all regulatory and shareholder conditions are satisfied, signalling a significant shift in the industry’s ownership structure.