easyJet shares jumped approximately 14% in London trading on Friday, reaching their highest valuation since February 2022.
The sharp rally followed reports that Apollo Global Management, the US-based private equity firm, has taken a substantial stake in the airline.
The move by Apollo marks a significant shift in sentiment for the carrier, which has faced headwinds from high fuel costs and competitive pressure in the European short-haul market.
Institutional investors have been cautious on the stock, but the entry of a major private equity player suggests a belief in the company's operational improvements and long-term value proposition.
easyJet has been executing a strategy to improve profitability through fleet modernization and route optimization.
The airline has also focused on expanding its ancillary revenue streams, including seat selection and baggage fees, to offset volatile fuel prices.
The Apollo investment validates these efforts, providing a vote of confidence from a sophisticated investor known for its rigorous due diligence.