EasyJet boss says Wizz offer was ‘questionable’

EASYJET CEO Johan Lundgren came out fighting today, insisting that the business was as likely to be an acquirer as a takeover target.

Last week arch rival Michael O’Leary at Ryanair said easyJet and WizzAir should merge or be taken over. “Consolidation… is an inevitability,” he claimed.

Wizz did make a cheeky bid for easyJet which was quickly rebuffed.

Today Lundgren, right, said that offer was “highly questionable” and insisted he has broad support from shareholders for a £1.2 billion rights issue.

Founder Stelios Haji-Ioannou has indicated that he won’t be taking part — his family’s stake in the airline will tumble from 25% to 15% once the fund raiser is completed.

Lundgren said the rights issue will protect easyJet from a further pandemic hit over the winter — and that it could look to bid for rivals itself once its balance sheet is stronger.

Lately, in common with travel agents such as TUI, bookings are soaring. Demand on some routes are up 400%, Lundgren claimed. He said, despite industry chatter, there has been no bid from BA owner IAG for easyJet. The shares today rose 5p to 659p. They have slid over the summer but are still up smartly on a year ago, when the future of the entire sector looked in jeopardy. Yesterday IAG shares jumped 10% after the White House said fully-vaccinated travellers from Britain and Europe will be able to travel to the US from November. That ends an 18-month ban.

BA chief executive Sean Doyle called the move “an historic moment”.