EasyJet has rejected Castlelake’s latest £4.7 billion all-cash takeover proposal, saying it undervalues the airline. Castlelake has made the offer public ahead of a Friday deadline to make a firm bid or walk away.
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Spirit Airlines abruptly halts operations, canceling all flights and stranding thousands. The shutdown is expected to drive up airfares on former Spirit routes amid industry-wide price pressures. Several airlines offer rescue fares to assist affected passengers.