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Opinion
Chris Bryant

EasyJet Was Supposed to Be a Post-Covid Hunter, Not Prey

The budget airline is worth a lot less than it was pre-pandemic. It needs to convince investors that it’s on the right path forward. 

It’s been a long day.

It’s been a long day.

Source: Bloomberg

It takes gumption to reject a takeover approach from a rival and announce a potentially very dilutive capital hike on the same day.

On Thursday British low-cost airline EasyJet Plc asked shareholders to pony up 1.2 billion pounds ($1.7 billion) via a fully underwritten rights offer to help pay down debt and seize growth opportunities presented by the pandemic. It also revealed getting and rejecting an unsolicited a takeover approach, which Bloomberg News later reported came from eastern European Wizz Air Holdings Plc.