Bank of America Increases Stake in easyJet

Bank of America Corporation has crossed a significant threshold in its holdings with easyJet PLC, as detailed in a recent TR-1 notification. On April 11, 2024, the major American bank's combined voting rights in the UK-based airline surpassed the notable figure, prompting a legal disclosure.

The total voting rights held by Bank of America now amount to 10.770565%, combining direct shares and financial instruments, amounting to a total of 81,641,958 voting rights. This represents an increase from the previous notification, indicating Bank of America’s growing interest in easyJet.

The increase is split between direct voting rights of 3.998938% and rights through financial instruments totaling 6.771627%. The financial instruments include swaps and physical options with expiration dates ranging as far out as 2025, showcasing a varied strategic approach in Bank of America's investment in easyJet.

This development indicates a significant vote of confidence in easyJet from one of the world’s largest financial institutions, highlighting the airline's continuing appeal to major global investors amidst the dynamic conditions of the aviation sector.