The US firm behind a series of failed takeover bids for Easyjet has had its fourth offer rejected by the budget airline's board. Despite the rejection, a source close to Sir Stelios Haji-Ioannou, who set up Easyjet in 1995 and still holds a 15% stake, suggested he would be willing to back a takeover deal if the price is right.
Easyjet's shares surged by 8.3% on the London Stock Exchange following the news, with speculation rife that a rival bidder may emerge in the coming weeks. The airline, which carries over 100 million passengers annually, has been the subject of intense takeover speculation in recent months.
Industry analysts have long predicted that Easyjet would be an attractive target for a larger airline or private equity firm looking to expand its operations in the UK and Europe. However, the airline's board has so far resisted several attempts to take control, citing concerns over the impact on jobs and the airline's market share.
Easyjet has been one of the UK's most successful airlines in recent years, with a fleet of over 350 aircraft and a network of routes that spans Europe and beyond. The airline has also been at the forefront of several high-profile disputes with airports and air traffic control authorities, including a recent row over flight delays at Gatwick Airport.
For UK travellers, the news of Easyjet's rejected takeover bid may have little immediate impact, but it does highlight the ongoing uncertainty surrounding the airline industry. With travel restrictions and flight delays a regular occurrence in recent years, it's essential for passengers to take out comprehensive travel insurance that covers trip cancellations, flight delays, and lost luggage.