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Air France-KLM would be interested “for sure” in any approach from private equity firm Castlelake about its possible bid for UK LCC EasyJet, Ben Smith, CEO of the Franco-Dutch airline group said during an interview with Bloomberg Television.
During a broadcast interview with Bloomberg, Smith was asked about the possibility of taking part in any deal. After initially saying it was “not something we've given much thought,” Smith then added: “EasyJet is a very impressive airline. They've had a fantastic history in how they've developed. They've got some great positions in Geneva, London Gatwick, et cetera, so it's very attractive, and their market cap is low. So, it's no surprise to us that there's a party or there's a group that's looking at buying them or buying a portion.”
The interview, posted online, took place on the sidelines of the International Air Transport Association’s (IATA) AGM in Rio de Janeiro, Brazil.
Castlelake said in May that it was “in the early stages of considering a possible offer for the company.” EasyJet said it had not had any discussions with the investment firm but would consider a proposal if one were made. The U.S. firm has until Jun. 26 to make an offer or withdraw.
Smith pointed to Air France-KLM’s own positive experience with Castlelake as part of its own deal to invest in Scandinavian Airlines (SAS). “Castlelake is an excellent private equity firm as well. We've had, we still have a great experience with them in SAS. So, it's not surprising to us, but we're not involved in this transaction,” he said.
Smith added: “The [EasyJet] slot portfolio is quite impressive, the number of slots they have in Gatwick, they’ve got some new slots at Linate that they gained through the remedy slots Lufthansa had to give up for the purchase of ITA. Even what they have at Orly in Paris—we’re a little uncomfortable with the position they have at Orly, so it is impressive.”
Asked if he would be interested in the opportunity, and if Castlelake approached him about EasyJet, would he pick up the phone, Smith said: “Oh, yeah, for sure. And I would expect all of our competitors to do the same.” He declined to predict whether an approach from Castlelake was likely.
Contacted by Aviation Week, an official from Air France-KLM said: “As clearly stated, Air France-KLM is not involved in a bid for easyJet. We remain focused on the TAP privatization process as well as the regulatory process to go to majority in SAS.”
Air France-KLM bought an initial 19.9% stake in SAS in 2023. In 2025 the group then said that it planned to increase its SAS stake to 60.5% by buying Castlelake and Lind Invest’s holdings, in a transaction it said should be complete in the second half of 2026.
The Paris-based company is also interested in investing in TAP Air Portugal as part of its long-planned privatization process, with a view to increasing its presence in the lucrative Europe-South America market, in particular routes to and from Brazil.
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