The agreement will see the airline acquired by the American investor, subject to approval from shareholders and competition regulators. If completed, the deal would end easyJet’s time as a publicly traded company after more than two decades on the London Stock Exchange.

The airline’s board has unanimously recommended that shareholders support the offer, describing it as an attractive proposal that reflects the company’s long-term value and future prospects.

The prospective buyer said it intends to continue investing in easyJet’s operations while maintaining its position as one of Europe’s leading low-cost carriers. The firm also expressed support for the airline’s existing management team and strategic direction.

easyJet operates an extensive network across Europe, including numerous routes linking Portugal with the UK and other major European destinations. The airline remains one of the country’s largest carriers, serving airports including Faro, Lisbon, Porto and Funchal.

The takeover proposal comes after several years of recovery for the aviation industry following the pandemic, with demand for leisure travel remaining strong despite higher operating costs and economic uncertainty.

The transaction will still require regulatory approval before it can be finalised. Both companies expect the process to take several months

If approved, the acquisition would represent a significant change in ownership for one of Europe’s best-known budget airlines, while passengers are not expected to see any immediate changes to flights, bookings or loyalty programmes.