According to the Financial Times, Castlelake is a major player in aircraft leasing, with a fleet of 375 planes rented out to airlines including Etihad, Qantas, Air India Express, Frontier and Viva.
In 2023, Castlelake acquired around 32% of Scandinavian airline SAS. Air France-KLM is in the process of buying back that stake.
Despite rebuffing the early offers, EasyJet opened the door to talks on June 25, agreeing to give the US fund access to commercial information in the hope of securing a more attractive proposal.
“Castlelake has emphasised its tremendous respect for EasyJet and its people, with its intention to support its future growth and transformation to a stronger, more resilient European airline,” the carrier said in a statement.
Castlelake said “there can be no certainty that any firm offer will be made” by the August 3 deadline.
But it added: “Castlelake is supportive of EasyJet’s fleet modernisation programme, which it regards as central to the company’s long-term competitiveness, efficiency and sustainability objectives.”
EasyJet shortly before Christmas 2023 confirmed a firm order for 157 additional Airbus A320neo aircraft.
Airbus at the time said EasyJet also modified an existing order for 35 A320neos into the larger A321neo.
EasyJet operates an all-Airbus, narrowbody fleet.
The airline’s website said its fleet currently comprised 126 A319s, 168 A320ceos, 20 of the A320neo aircraft, and four A321neos.
In May, EasyJet reported losses deepened by 27% in the first half of the financial year to £377 million ($883m) as the US-Iran conflict sent fuel prices soaring and upended travel plans.
The company warned that the second half of the year would also be affected, though chief executive Kenton Jarvis said the airline was “well placed” to ride out the turbulence.
Budget rival Ryanair, by contrast, enjoyed a profit jump of 35% on its full-year return, though it too warned of problems ahead caused by the Middle East war.
– AFP
Additional reporting: NZ Herald