Castlelake’s possible approach lifted EasyJet’s shares only 10%, and the fund has disclosed a 2% stake. EasyJet called the timing “highly opportunistic”; City analysts put this year’s pre‑tax profit as low as £100m, down from £665m a year ago. Book value of the owned fleet is estimated at 615p–650p per share, while founder Sir Stelios Haji‑Ioannou and his family retain a 15% holding. Any US‑led takeover would have to satisfy European ownership rules requiring majority UK/EU control.