Bank of America Increases Stake in EasyJet

Bank of America Corporation has expanded its holding in EasyJet PLC, crossing a significant threshold that prompted a regulatory filing. As of April 4, 2024, the US-based financial institution increased its combined voting rights and financial instruments in the UK airline to 9.23% from the previous level of 8.94%. This change resulted from acquisitions and disposals of voting rights.

The detailed notification outlines that Bank of America now directly holds 3.31% of the voting rights attached to shares in EasyJet, with an additional 5.92% derived from financial instruments. The total number of voting rights held by Bank of America in EasyJet stands at 69,944,858. The instruments include various swaps and options, with some agreements extending into 2025, indicating a long-term interest in the airline's stock.

This notification, required under regulatory rules for major shareholdings, not only sheds light on Bank of America's increasing stake but also underscores the dynamic nature of institutional investment in the aviation sector. EasyJet, like other airlines, continues to attract investment interest as the industry recovers and evolves post-pandemic.