No-frills airline easyJet has dismissed a takeover approach from a US investment firm as "highly opportunistic" as shares in the budget airline jumped as much as 13% this morning12:24, 01 Jun 2026Shares in easyJet soared after bosses at the British budget airline knocked back a takeover swoop.‌The Luton-based airline branded an approach by US investment firm Castlelake “highly opportunistic”. It also confirmed it has not held talks with the suitor. EasyJet’s shares jumped as much as 13% on Monday morning. Castlelake's interest was revealed late on Friday, after the stock market closed in London.‌The US-based global investment firm said that it was in the early stages of considering an offer for easyJet, but had not yet approached the firm’s board. The American firm, which confirmed it owns a stake of around 2.14% in easyJet through shares held on behalf of funds it manages, said on Monday any offer would be for “no less than” 403.23p a share.‌Easyjet said the takeover interest comes at a time when its share price has been depressed by worries over the impact of the Iran war on the airline sector. EasyJet said: “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.”It highlighted its strong financial position and said it remained focused on its medium-term target to deliver more than £1billion in profits. EasyJet said it also “notes the considerable regulatory, financial and other execution challenges associated with a potential takeover of easyJet”.‌But it said it has a duty to maximise shareholder value and would “consider any proposal, should one be made”. Castlelake has until 5pm on June 26 make a firm offer or walk away under UK takeover rules.Led by executive chairman and founder Rory O’Neill, Castlelake and has assets under management worth £27billion. It entered talks in January with bankrupt US carrier Spirit Airlines over a possible takeover. Castlelake has also previously bailed out collapsed Scandinavian Airlines (SAS) and then sold on its shares to Air France-KLM.‌While analysts said Castlelake had the financial firepower to bid for easyJet, they considered a full takeover unlikely because of European and British regulatory restrictions. There has been speculation of a takeover bid for easyJet for years as it has faced a tough challenge from rival Ryanair.Its slots at Gatwick airport as well as in key hubs in Paris and Geneva make it a potentially interesting takeover candidate for larger players looking to expand their footprint. But investors have for years pointed to the possible competition challenges that could arise if Europe’s major airline groups were to take over easyJet, particularly British Airways-owner IAG.Chris Beauchamp, chief market analyst at investing and trading platform IG, said: “Few people can resist a bargain, but this time around it is easyJet itself that has caught the eye of some savvy shoppers. Years of disappointing performance drove the shares to a bargain-basement valuation that has resulted in Castlelake’s interest.Article continues below“EasyJet’s management might blame the war in the Middle East for the recent poor run but the reality is that the iconic airline has been in dire need of a more dynamic approach, having fallen far behind its rival Ryanair. Exasperated shareholders might be asked to give the board the benefit of the doubt, but many will feel the time has come for a radical change at the top.”Dan Coatsworth, head of markets at broker AJ Bell, said: “EasyJet’s biggest shareholders are unlikely to accept a takeover bid unless there is a knockout price. Castlelake is preying on the weak, pouncing when easyJet faces its biggest headwind since the global pandemic. Investors won’t want to sell in the darkest of hours unless they are getting generous compensation.“A bid is the last thing easyJet’s management want to happen, given they’ve already got their hands full trying to navigate a weak market backdrop and concerns around post-summer fuel shortages."