International Airlines Group CEO Luis Gallego warned that European Union competition rules make an imminent bid for easyJet practically non-viable, dealing a blow to takeover hopes ahead of a June 26 regulatory deadline for US private credit firm Castlelake to table a formal offer. Gallego said evaluating an acquisition of easyJet remains theoretically possible but navigating the European Commission's antitrust architecture is extraordinarily difficult due to severe route overlaps across Western European corridors. Castlelake cannot execute a solo buyout without partnering with a European carrier to maintain majority local voting control, but IAG is pulling back and Air France-KLM signaled they are not actively engaged in talks with the American group. easyJet shares slipped 0.5% to 501 pence on Thursday, still carrying a 26% takeover premium from late May, while the carrier posted a £552 million pre-tax loss for the first half of the financial year. If the June 26 deadline lapses without a firm offer, the takeover premium is expected to evaporate and trigger a sharp correction toward the 400 pence floor.
International Consolidated Airlines Group S.AIAG CEO warns EU antitrust rules make easyJet takeover non-viable, dashing takeover hopes
Air France-KLM SA
EasyJet PLC
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