Budget airline easyJet has branded a possible takeover approach from Castlelake as “highly opportunistic” and said it had not held talks with the US investment fund.
The carrier said the takeover interest comes at a time when its share price has been pushed lower by concerns about the Iran war impact on jet fuel prices and passenger demand.
Castlelake revealed late on Friday, after the stock market close in London, that it was in the early stages of considering an offer for easyJet.
EasyJet said on Monday: “The board of easyJet has not had any discussions with, nor received any approach or proposal from Castlelake.”
It added: “The board notes the highly opportunistic timing when easyJet’s share price is temporarily depressed due to the current situation in the Middle East and its impact on customer confidence and jet fuel prices.”
Luton-based easyJet said it also “notes the considerable regulatory, financial and other execution challenges associated with a potential takeover of easyJet”.
