Castlelake has entered the early stages of exploring a possible offer for easyJet, marking the first takeover interest for the struggling British budget airline. The US-based private credit firm confirmed it has not yet approached easyJet's board but cautioned no certainty exists that a bid will materialize.

The potential bid comes as easyJet shares have plummeted more than 20% this year, leaving the carrier valued at approximately £3bn. The airline faces widening losses due to soaring fuel prices exacerbated by the Iran war, making it vulnerable to acquisition amid industry turbulence.

Castlelake, majority owned by Brookfield Asset Management with $36bn in assets, specializes in aviation financing. Under UK takeover rules, the firm faces a June 26 deadline to either make a firm bid or walk away. The move could position easyJet as the latest UK-listed company to be delisted.