Some interesting movements in the low-cost charter sector, as πππ¬π²πππ just rejected a takeover approach from ππ’π³π³ ππ’π« that would have created a low-cost airline to rival ππ²ππ§ππ’π«.
Instead, the company opted to raise $1.7bn from existing shareholders and go alone as the industry battles to recover from the pandemic.
With the funds Easyjet plans to buy new airport slots.
So far shares are down 10%, but this reflects more the discount of the capital raise, rather than necessarily negative investor sentiment.
Curious to see how this evolves!
