London, June 12, 2026, 11:04 BST
- easyJet’s delayed quote was up 3.63% at a 507.40p sell and 508.00p buy, beating the FTSE 250’s 1.80% gain.
- Air France-KLM’s CEO said easyJet has “attractive assets.” But he said the group isn’t actively looking at a bid.
easyJet plc shares drew attention again as more takeover talk added to gains that have lifted the stock well past the level mentioned in Castlelake’s possible offer. Hargreaves Lansdown’s market screen, though delayed, put easyJet at 507.40p to sell and 508.00p to buy—up 17.80p, or 3.63%, from the last 490.00p close. The FTSE 250 gained 1.80%. easyJet already jumped 2.73% on Thursday, finishing at £4.90 and beating the broader London market.
Air France-KLM CEO Ben Smith said at the Paris Air Forum that the group isn’t ruling out a look at easyJet if someone makes an approach, but has no active deal in the works. “There are some amazing assets that easyJet has,” Smith said. He also said Air France-KLM hadn’t had talks with Castlelake about joining a possible bid. Reuters
Castlelake said in late May it was looking at a possible offer for easyJet at over 403.23p a share. The U.S. investment firm has until June 26 under U.K. takeover rules to make a firm bid or walk. easyJet says it hasn’t received a formal proposal. The airline called the timing opportunistic, pointing to a share price weakened by recent travel and fuel costs.
easyJet is in focus for potential takeovers, with talk revolving around its airport slots, its fleet, and its holidays unit. There’s also the issue of how to pull off a deal that fits European ownership rules. Last week, Reuters said analysts pointed to the airline’s valuation, its slots and its steady fleet as draws for possible buyers. IG’s Chris Beauchamp put it in blunt terms: “Few people can resist a bargain.” Reuters
easyJet’s half-year numbers offer bulls and bears something to point to. The airline posted a headline loss before tax of £552 million for the six months to March 31, 2026. Passenger numbers grew 6%, with load factor up 2 points at 90%. The easyJet holidays unit brought in £61 million of headline pre-tax profit. easyJet said it held £4.7 billion in liquidity, £434 million net cash and £5.0 billion in owned assets, saying these give it flexibility going into the summer.
easyJet’s stock is still drawing buyers after the takeover rally, but it doesn’t look like a clear buy. Bulls point to the balance sheet, airport slots, strong summer demand, growth in holidays, and the idea that more deal talk could make the market focus on the airline’s assets. Bears say shares are well above Castlelake’s floor offer, while fuel prices, Middle East travel risks, late bookings, and regulators could hold the stock back. Morningstar analyst Loredana Muharremi dropped her fair value call to £5.74 from £6.70, flagging softer “earnings visibility.” That figure ignores any takeover bid. Morningstar
Whether Castlelake can pull together a proper bid before the June 26 cutoff remains an open question for the market. People are watching to see if it brings in partners to get around airline ownership hurdles. In the meantime, easyJet shares look set to react to any whiff of interest from other carriers, more bid talk, oil price swings, or signs that summer travel demand is enough to make up for the soft outlook the company reported lately.
