EasyJet's flight path from start-up to takeover deal

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July 5, 2026 4:35 PM EDT

FILE PHOTO: An easyJet Airbus A319 aircraft takes off from Nantes Atlantique Airport in Bouguenais near Nantes, France, April 30, 2026. REUTERS/Stephane Mahe/File Photo

July 5 (Reuters) - A £5.50 billion ($7.34 ‌billion) deal ​for ​U.S. investment firm Castlelake to acquire British budget airline easyJet, announced on Sunday, would mark a new chapter ‌in the carrier's 31-year history.

Here is a timeline of ⁠easyJet's key milestones:

1995

Founder Stelios Haji-Ioannou launches flights from London Luton Airport to Glasgow ‌and Edinburgh in Scotland, challenging ‌established carriers with low fares.

2002

Acquires rival Go Fly.

2007

Acquires rival GB Airways.

2011 – 2013

Buys 135 Airbus aircraft, modernising fleet.

2020

COVID-19 forces 4,500 job ​cuts and shrinking of fleet.

2021

Rejects takeover approach from Wizz Air, raises $1.7 billion from existing shareholders.

February - March 2026

Iran conflict hurts airlines ⁠globally and easyJet warns of higher fares, fuel shortages.

May 29, 2026

Minneapolis-based aviation investor Castlelake ​discloses it is considering an offer for easyJet.

June 12, 2026

Castlelake privately submits takeover proposal at £5.60 per share.

June 16, ​2026

EasyJet rejects Castlelake's bid.

June 17, 2026

Castlelake ‌returns with £6.00 a share private bid.

June 20, 2026

EasyJet board rejects Castlelake's second proposal, prompting it to ⁠increase private offer to £6.25 a share.

June 21, 2026

EasyJet rejects Castlelake's third proposal, calling it "cheap".

June 22, 2026

Castlelake goes public with its £6.25 a share offer and ⁠says the structure would satisfy EU majority ownership rules.

June 23, 2026

Castlelake privately ​submits fourth offer of £6.50 a share, easyJet later revealed.

June 25, 2026

EasyJet says it has rejected that bid but agrees to share some internal data with ‌Castlelake in hopes of a higher bid. Sets July 5 deadline.

July 5, 2026

EasyJet and Castlelake announce ‌deal in principle at £6.90 a share, valuing the airline at £5.5 billion ⁠on a fully diluted basis.

($1 = ‌0.7490 pounds)

(Reporting by Neeshita ​Beura and Nithyashree R B in Bengaluru, additional reporting by Bipasha Dey; Editing by Rashmi Aich and ‌Cynthia Osterman)


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