EasyJet reports large part of €1.4bn new shares taken up

The airline said its investors had bought 93% of the new shares on offer in its €1.4bn rights issue, designed to help fund its recovery from the pandemic

The airline's biggest shareholder, the family of founder Stelios Haji-Ioannou, decided not to participate in the rights issue, and their stake is set to reduce to about 15% from 25%. File picture

EasyJet said its investors had bought 93% of the new shares on offer in its £1.2bn (€1.4bn) rights issue, designed to help fund its recovery from the pandemic.

The airline announced the cash call, its second during 18 months of Covid-19, earlier this month, at the same time as revealing it had rejected a takeover approach from an unnamed suitor, believed to be low-cost rival Wizz Air.