EasyJet CEO says carrier will address EU rules once takeover formalised
APO•EU ownership rules could affect Apollo and Castlelake bids
The EU requires airlines to be majority owned and controlled by EU entities, and both of easyJet's bidders - Apollo APO.N and Castlelake - are U.S.-based. The carrier has backed Apollo's £5.7 billion ($7.6 billion) proposal over a lower one from Castlelake.
"The board is looking at both value and deliverability when it comes to any offer, and deliverability involves, you know, being a European ally and regulated as such," Jarvis said, adding that easyJet and Apollo would likely speak with regulators "hand-in-hand".
($1 = 0.7484 pounds)
EasyJet to contact EU regulators once formal offer is received
July 23 (Reuters) - EasyJet EZJ.L plans to contact regulators in the European Union over ownership regulations once the British carrier has a formal offer in hand from either of its suitors, CEO Kenton Jarvis told Reuters on Thursday in response to its report.
Reuters reported on Wednesday that the EU may tighten airline ownership rules, potentially complicating easyJet's proposed takeover.
