LONDON: Budget airline EasyJet is set to be acquired by a US private equity firm in a deal valued at £5.7 billion, marking one of the biggest transactions in the European aviation sector in recent years.

The acquisition represents a significant shift in ownership for the British low-cost carrier, which has become one of Europe's leading airlines since its launch in 1995. Subject to regulatory approvals and shareholder consent, the deal is expected to be completed later this year.

According to the terms of the agreement, the private equity firm will acquire all outstanding shares of EasyJet, taking the company into private ownership. The airline's board has reportedly recommended that shareholders approve the offer, describing it as an attractive proposal that reflects the company's long-term value.

EasyJet has faced a challenging operating environment in recent years, including rising fuel prices, inflationary pressures, supply chain disruptions, and increased competition across the European aviation market. Despite these headwinds, the airline has continued to report strong passenger demand, supported by a recovery in international travel.

The acquiring firm said it sees significant opportunities to strengthen EasyJet's operations, invest in fleet modernization, and expand its presence in key European markets. Company executives also indicated that the airline's existing brand, route network, and management expertise were key factors behind the investment.

Industry analysts say the takeover could provide EasyJet with greater financial flexibility, allowing it to focus on long-term growth strategies without the short-term pressures of the public stock market.

Passengers are not expected to experience immediate changes to flight schedules, ticket bookings, or loyalty programs while the acquisition process is underway.

If completed, the £5.7 billion transaction will rank among the largest private equity deals involving a European airline and could reshape competition in the region's low-cost aviation sector.