EasyJet said it would accept a £5.5 billion offer from the U.S. private‑equity firm Castlelake that would take the airline private. The companies issued a joint statement on Sunday saying they had reached an agreement in principle and requested more time to finalize the deal. EasyJet, a member of the FTSE 250, had rejected an earlier offer of £6.50 per share, calling it undervalued, and a first bid of £5.60 per share had been made. Its shares closed at £5.58 on Friday, giving the company a market value of about £4.2 billion. The founder, Stelios Haji‑Ioannou, holds more than 15 % of the firm and could receive nearly £800 million if the transaction closes. EasyJet had been considered a takeover target after two profit warnings in the spring and a challenging macroeconomic environment that included higher fuel prices linked to the war in the Middle East. The airline’s chief executive, Kenton Jarvis, said bookings fell in March because of the war, and the carrier faces competition from Ryanair, Wizz Air and Jet2. Castlelake, based in Minneapolis, specializes in asset‑based lending and leasing of aircraft. It previously explored a stake in SAS, which it is now selling, and has indicated it will create a European holding company to meet EU airline ownership rules. The board of easyJet was advised by Evercore, while Goldman Sachs advised Castlelake. The firm must make a firm offer or withdraw by 5 p.m. on 3 August.