The acquisition of EasyJet by US investment firm Castlelake is facing fresh headwinds after the departure of CEO Kenton Jarvis, raising questions about the future of the £5.5 billion transaction.
The low-cost carrier’s leadership change comes shortly after the two parties agreed in principle to the deal, which would mark the end of EasyJet’s 31-year history as a publicly traded company.
The deal had been valued at approximately £5 billion in initial reports, with subsequent figures placing the transaction value at £5.
Handelsblatt reports that Jarvis’s exit has created significant uncertainty for the buyout, potentially jeopardizing the agreement that was announced over the weekend.
The German business daily suggests the departure could lead to the collapse of the takeover, as Jarvis was the central figure in negotiating the terms with Castlelake’s Evan Carruthers.
The proposed acquisition represents a major shift in the European aviation landscape, with Castlelake aiming to take the British budget airline private.
The deal had been valued at approximately £5 billion in initial reports, with subsequent figures placing the transaction value at £5.5 billion.