EasyJet supposed to be a post-Covid hunter, not prey

Taking risks: Passenger aircraft operated by EasyJet at London Luton Airport. EasyJet has rejected an unsolicited takeover approach from rival discounter Wizz Air Holdings. — Bloomberg

IT takes gumption to reject a takeover approach from a rival and announce a potentially very dilutive capital hike on the same day.

On Thursday British low-cost airline EasyJet Plc asked shareholders to pony up £1.2bil (RM7bil) via a fully underwritten rights offer to help pay down debt and seize growth opportunities presented by the pandemic. It also revealed getting and rejecting an unsolicited a takeover approach, which Bloomberg News later reported came from eastern European Wizz Air Holdings Plc.