easyJet has reached an agreement in principle with Castlelake LP for a £5.2 billion takeover, ending weeks of corporate maneuvering after rejecting four prior bids. The deal values the airline at 690 pence per share, a sweetened offer from the US private credit firm that includes EU ownership compliance via partners Peter Bellew and Mark Breen. Castlelake must secure regulatory clearances and present a firm intention by 3 August 2026 at 17:00 BST, with the board minded to recommend the offer if finalized. This move would take Britain’s largest low-cost carrier private, exiting the FTSE 250 and reshaping European aviation as Castlelake gains limited access to internal commercial books for due diligence.