TLDR

• Crypto ETF outflows reached about $147 million on July 9, led by losses in Bitcoin and Ether funds.
• Bitcoin ETFs recorded $95.3 million in outflows, with FBTC and ARKB driving most redemptions.
• Ether ETFs saw $52.2 million in losses, reversing strong inflows recorded a day earlier.
• BlackRock’s IBIT remained flat, removing a key source of inflows that supported earlier sessions.
• Weekly ETF flows showed volatility, shifting from inflows to consecutive days of outflows.

Crypto ETF outflows deepened on July 9 as U.S.-listed Bitcoin and Ether funds recorded combined losses of about $147 million. The session extended a weak trend following earlier signs of stabilization in institutional demand. The data confirmed that crypto ETF outflows continued despite recent price strength in major digital assets.

Bitcoin ETFs Lead Daily Redemptions

Bitcoin funds recorded $95.3 million in net losses, reinforcing the latest wave of crypto ETF outflows across major issuers. Fidelity’s FBTC led the decline with $63.3 million in redemptions during the session. Ark and 21Shares’ ARKB followed with $39.9 million in outflows, increasing pressure on the category.

Smaller inflows partially offset losses but failed to reverse overall crypto ETF outflows for Bitcoin products. VanEck’s HODL added $5.4 million, while Morgan Stanley’s MSBT brought in $2.2 million. Bitwise’s BITB posted a marginal inflow of $0.3 million, limiting net declines.

BlackRock’s IBIT and Grayscale’s GBTC remained flat, removing a key source of demand seen earlier in the week. IBIT had previously driven inflows with over $200 million on July 6. Its neutral position allowed crypto ETF outflows to deepen without a strong counterbalance.

Ether Funds Reverse Prior Gains

Ether ETFs recorded $52.2 million in net losses, adding to overall crypto ETF outflows across digital asset funds. Fidelity’s FETH accounted for $34.0 million of these redemptions. BlackRock’s ETHA also posted $12.7 million in outflows during the same session.

Grayscale’s ETHB and Bitwise’s ETHW contributed additional declines with losses of $2.7 million and $2.8 million, respectively. Other Ether funds remained flat, including VanEck’s ETHV and Invesco’s QETH. The absence of inflows across multiple issuers reinforced the scale of crypto ETF outflows.

The reversal followed a strong July 8 session when Ether ETFs attracted $70.5 million in inflows. FETH had led those gains before shifting to the largest source of redemptions. This rapid change highlighted how concentrated flows can drive short-term crypto ETF outflows.

Weekly Flow Trend Shows Volatility

ETF flow data showed sharp swings throughout the week, reflecting inconsistent demand across issuers and products. Bitcoin ETFs gained $265.7 million on July 6 before slowing to $21.5 million on July 7. The trend reversed on July 8, when funds recorded $84.9 million in crypto ETF outflows.

The July 9 data confirmed a second consecutive day of losses, pushing total crypto ETF outflows deeper into negative territory. Ether funds followed a similar pattern, moving from strong inflows to notable redemptions within one day. This pattern indicated that flows remained uneven and highly sensitive to short-term conditions.

Solana ETFs provided limited support with $0.4 million in inflows, offering only a minor offset to broader crypto ETF outflows. VanEck’s VSOL and TSOL accounted for the small gains recorded in this category. Other Solana products remained flat, leaving overall flows dominated by Bitcoin and Ether declines.

Crypto ETF outflows on July 9 highlighted continued weakness in institutional allocations despite recent market stability. The absence of strong inflows across major issuers allowed redemptions to drive overall performance. The latest session confirmed that crypto ETF outflows remain a key indicator of shifting demand trends.

The European Parliament has moved to revive “chat control” rules that require tech firms to scan messages for child sexual abuse material for a further period ending in 2028, a proposal widely criticized by privacy and cryptography advocates as undermining the logic of encrypted messaging.

In a Thursday vote, the chamber largely rejected extending the regulation—often referred to by critics as “Chat Control 1.0.” But the effort still advanced after lawmakers voted down the move to stop it, meaning the rules can be carried forward. The vote that would have ended the measure failed to secure enough support: 314 lawmakers voted to continue, while 276 supported the extension.

Key takeaways

• The European Parliament approved a continuation of “chat control” rules tied to scanning messages for child sexual abuse material until 2028.
• Lawmakers rejected an attempt to block the extension, which means the legal framework can proceed despite resistance in the chamber.
• An exemption was approved for communications where end-to-end encryption is, has been, or will be applied—an important carve-out for encrypted messaging.
• The final decision now depends on the EU Council, which will either accept or reject the amended legislation.
• Negotiations for a permanent “Chat Control 2.0” framework are expected to restart in September, with disagreement over whether scanning should be targeted or broad.

How the extension cleared Parliament—and why encrypted messaging mattered

The vote follows the expiration of the earlier framework in April. With that window closed, messaging platforms such as WhatsApp were allowed to use their own voluntary approaches to detect and handle cases involving abusive material.

Thursday’s outcome reflects a split within the Parliament. Critics had aimed to prevent the extension, but stopping it required a higher threshold: only 314 lawmakers voted to halt the rules, short of the 361 needed. Instead, the measure advanced with 276 lawmakers voting in favor of ending the opposition move, effectively enabling the legislative path to continue.

Still, Parliament did deliver a partial win for privacy advocates. The assembly approved an exemption excluding communications where end-to-end encryption is, has been, or will be applied. The exemption was included as part of the legislation that Parliament endorsed, as reflected in the text of the adopted act: EU Parliament document TA-10-2026-0266_EN.

MEP Markéta Gregorová of the Pirate Party—who pushed the amendment to protect end-to-end encryption—called the result “a bittersweet victory.” In a statement, she said she was glad an absolute majority supported an amendment that at least preserves encryption, while also noting that “voluntary mass scanning unfortunately passed.” The statement is available via Greens/EFA: Greens/EFA.

Why the Council of the EU is the next gate

Parliament’s version of the laws—incorporating amendments and the end-to-end encryption exemption—will now be sent to the Council of the European Union. The Council is made up of ministers representing member states and has the authority to approve or reject the legislation.

For investors and builders in the crypto and privacy ecosystem, the practical significance is straightforward: if the rules are adopted as drafted, service providers operating in the EU could face pressure to implement scanning mechanisms for certain categories of content, even while encrypted traffic is carved out under specific conditions. The precise compliance burden—and how it will be interpreted by regulators later—will depend on the final Council outcome and the implementing approach that follows.

The “Chat Control 2.0” fight is expected to intensify

This Thursday vote does not settle the broader dispute. The current legislative push is tied to a wider attempt to update the policy into a more permanent framework—commonly labeled “Chat Control 2.0.”

Earlier this week, the European Parliament used a rarely applied urgent procedure to schedule a vote after the previous framework lapsed. According to earlier reporting by Cointelegraph, Parliament voted Tuesday to revisit whether the expired legal framework should be extended—prompting the return to the chamber on Thursday. That background matters because it shows how quickly the institution moved after the expiration in April and why the extension remained politically contested even within the Parliament.

The sequence also highlights tensions inside Parliament. Earlier in March, lawmakers rejected a temporary extension while “Chat Control 2.0” was being discussed. The European People’s Party, the largest group in Parliament, later revived the extension through the urgent procedure on Tuesday. In March, the group had voted against extending the rules, including due to amendments that would have restricted the scope of scanning.

Looking ahead, negotiations for the permanent “Chat Control 2.0” framework are set to resume in September. Key disagreement centers on whether message scanning should be targeted to higher-risk scenarios or applied more broadly. Former MEP Patrick Breyer—cited in the text provided—argued that resistance in Parliament was strong enough that securing a majority for “permanent, suspicionless mass scanning” would be extremely difficult.

What encrypted messaging advocates will watch next

The exemption for end-to-end encrypted communications is likely to remain the focal point for privacy and cryptography advocates as the measure heads to the Council. The immediate question is not only whether the exemption survives final negotiations, but how it will be operationalized in practice—especially for systems that handle encrypted content while still facing EU compliance expectations.

Readers should watch for Council deliberations and the September negotiations on “Chat Control 2.0,” where lawmakers will decide whether scanning rules will remain constrained or expand in scope. The outcome will shape how closely EU policy aligns with encryption-first design—an issue that continues to carry significant implications for users, developers, and the broader credibility of privacy protections across Europe.

US-listed Bitcoin mining company TeraWulf is reportedly seeking to raise $3.5 billion in debt to expand its Justified Data campus in Kentucky, a facility leased by artificial intelligence company Anthropic under a long-term agreement.

The deal is expected to launch this year, with investment bank Morgan Stanley leading the financing effort, TeraWulf chief financial officer Patrick Fleury said, according to a Thursday Bloomberg report.

The deal could include leveraged loans and high-yield bonds, marking TeraWulf’s first entry into the leveraged loan market, the report stated.

The news comes days after TeraWulf signed a 20-year lease agreement with Anthropic for the Kentucky facility, showing how demand for AI computing capacity is creating new funding opportunities for data center operators.

TeraWulf’s previous financing activity includes multibillion-dollar offerings

The Justified Data campus in Hawesville, Kentucky, is being developed as a large-scale data center project to support AI computing workloads, with initial operations expected in the second half of 2027 and full buildout targeted for early 2028.

The facility is expected to generate about $19 billion in contracted revenue over the initial lease term with Anthropic, according to TeraWulf.

Source: TeraWulf

The $3.5 billion debt raise follows the company’s previous financing offerings, where it raised $1.3 billion in December 2025 and $3.2 billion in October 2025.

Cointelegraph reached out to TeraWulf and Morgan Stanley for comment on the reported financing but had not received a response by publication time.

TeraWulf faces concerns over insider transactions and growth model

TeraWulf has recently drawn investor questions over insider stock sales, shareholder alignment and broader concerns over the company’s growth model.

On Thursday, Bitcoin mining advisory company Blocksbridge Consulting highlighted TeraWulf as an example of the investor scrutiny around insider stock sales at Bitcoin mining companies that have benefited from AI-related momentum.

Related: Crypto Biz: Is AI the exit strategy for miners?

TeraWulf has also faced questions over the economics of its AI data center model. In a McNallie Money podcast on Tuesday, Fleury pushed back against a short-seller’s model that estimated higher maintenance costs for TeraWulf’s data centers. He argued that the company’s role is to provide power and facility infrastructure, while customers are responsible for their computing equipment and technology upgrades.

Source: Matthew Sigel

Fleury said the company’s long-term lease structure limits the recurring upgrades and reconfiguration costs typically associated with data centers.

Magazine: Bitcoin’s quantum dilemma: Bigger blocks or STARK proofs?

Ethereum price has rebounded to nearly $1,800 after easing geopolitical tensions and an aggressive short squeeze across crypto derivatives restored appetite for risk assets, while traders now watch whether bulls can force a breakout above a key technical ceiling.

The second-largest cryptocurrency has recovered sharply from this week’s low near $1,505, when U.S. strikes on Iranian targets triggered a broad sell-off across digital assets. Sentiment reversed over the past 24 hours after fears of further escalation subsided, prompting investors to rotate back into higher-risk assets

A wave of forced short liquidations accelerated the move, pushing ETH through several resistance levels and back toward the psychologically important $1,800 mark.

Asian markets added another catalyst. South Korea’s Kospi index jumped roughly 4% as artificial intelligence and semiconductor stocks rallied, encouraging a wider return to growth assets.

Ethereum participated in that rotation despite U.S. spot Ether ETFs recording a combined net outflow of about $52 million on Thursday, suggesting overseas spot demand and crypto-native buying more than offset weaker institutional flows in the United States.

Fresh regulatory developments also improved sentiment. CFTC leadership has urged the U.S. Senate to advance the Digital Asset Market Clarity Act, a proposal that would establish a clearer regulatory framework for digital assets.

At the same time, Ethereum continues to dominate the tokenized real-world asset market with nearly half of global RWA value secured on its network, reinforcing the chain’s position as institutional tokenization activity expands.

Ethereum has reclaimed key resistance, but $1,800 remains the decisive hurdle

The daily chart shows Ethereum reclaiming the 2/8 Murrey Math pivot near $1,750 after bouncing from the 0/8 support around $1,500. Price is now testing the upper edge of that range near $1,800, while the Chaikin Money Flow has climbed back into positive territory at 0.08, suggesting capital has started returning after weeks of sustained selling.

On the 4-hour chart, ETH has broken above the 78.6% Fibonacci retracement at approximately $1,773 and is trading just below resistance near $1,833. Momentum has strengthened as the MACD completes a fresh bullish crossover with expanding positive histogram bars, while the RSI has climbed above 62 without yet entering overbought territory. Together, those indicators leave room for another advance if buyers maintain control.

Derivatives positioning supports the technical picture. CoinGlass liquidation data shows one of the largest short liquidation clusters sitting between $1,790 and $1,810. A sustained move above that zone could trigger another round of forced buying, while the next concentration of leveraged positions appears closer to $1,850. As long as those liquidity pockets remain overhead, volatility is likely to stay elevated.

Commenting on the latest structure, analyst Ted Pillows wrote:

“ETH is holding above the $1,750 level, which is a good sign. Spot demand is picking up a bit, which could push Ethereum towards the $1,850–$1,900 zone in the coming weeks.”

Separately, fellow analyst Alex Marzell argued that Ethereum has bounced from the lower boundary of a long-term descending channel and believes “one clean breakout above the upper trendline could change everything.”

Failure to hold $1,750 would weaken the recovery setup

Despite the improving momentum, Ethereum has not yet confirmed a trend reversal. The $1,800-$1,833 region combines Fibonacci resistance with a dense liquidity pocket, making it the first major test for bulls.

Repeated rejection from that area would increase the likelihood of another move toward $1,725, while a break below $1,750 would expose the $1,620-$1,550 support region that launched the current recovery.

Macro risks also remain. Any renewed escalation in the Middle East, stronger-than-expected U.S. inflation data, or another wave of ETF outflows could reduce demand for risk assets and interrupt Ethereum’s recovery. Until buyers establish support above $1,800, the current advance remains a recovery rally rather than a confirmed long-term trend reversal.

Metaplanet, a Japan-based investment firm best known for building a large Bitcoin reserve, says it is commissioning a joint study into Bitcoin-backed digital credit products in the country. The research ties together Metaplanet’s securities arm, Metaplanet Securities, stablecoin issuer JPYC, and tokenization infrastructure provider Progmatia, with the goal of testing whether Bitcoin can serve as collateral and credit enhancement for tokenized credit instruments.

In a filing shared by Metaplanet on Friday, the company outlined a concept in which BTC would be used alongside JPY Coin (JPYC)—a Japanese yen-pegged stablecoin—for settlement and payments. Security tokens would then be used to manage holder rights. Metaplanet emphasized that the work is exploratory, and that no product launch is planned as part of the study.

Key takeaways

• Metaplanet and partners are studying whether BTC can function as collateral and credit enhancement for blockchain-based corporate credit instruments in Japan.
• The proposed settlement flow uses BTC collateral plus JPYC for payments, while security tokens would represent and govern holder rights.
• The study focuses on design tradeoffs, proof-of-concept testing, and the feasibility of issuance, but Metaplanet said no issuance decisions have been made.
• The initiative aligns with Metaplanet’s “Project Nova,” which aims to expand the firm from a Bitcoin treasury model into Bitcoin-centered financial services.
• Tokenized real-world asset (RWA) data indicates growing investor interest in on-chain credit products, including asset-backed credit and tokenized corporate credit.

Bitcoin as collateral for tokenized corporate credit

At the core of Metaplanet’s joint study is a credit structure that blends traditional credit logic with on-chain settlement. According to Metaplanet, the research will evaluate whether Bitcoin can be used not only as collateral but also as a credit enhancement mechanism for digital corporate bonds and other credit instruments.

The company says the envisioned products would be designed for 24/7 accessibility, on-chain settlement, and daily interest accrual for holders. Rather than relying on conventional market hours and settlement cycles, the concept targets continuous operation on a blockchain ledger—an area that could matter to both issuers and investors if it translates into smoother servicing and potentially faster distribution.

Metaplanet also made clear that the study is intended to assess feasibility rather than to announce a new security offering. It highlighted that, while the research will explore product design and proof-of-concept options, nothing has yet been determined regarding future issuance.

JPYC and security tokens: how settlement and rights would work

One of the more specific parts of Metaplanet’s proposal is the role of JPYC and security tokens in the credit system. The study concept places JPYC at the center of settlement and payments, meaning the yen-pegged stablecoin would be used to handle value transfers associated with the credit instrument.

Separately, Metaplanet’s plan uses security tokens to manage holder rights. That design choice is important because credit instruments typically require clear rules around ownership, entitlements, and any rights attached to the underlying obligation. By mapping those rights onto a tokenized representation, the study aims to test whether a more automated rights-management layer can coexist with a collateral model anchored in Bitcoin.

Metaplanet’s filing also frames the project around “credit enhancement” and collateralization mechanics. That distinction matters: collateral alone can support repayment, but credit enhancement often targets investor risk by adding extra protection or structuring features. The study’s focus suggests Metaplanet is trying to answer a practical question for tokenized credit markets—how to translate Bitcoin’s volatility into a system that investors can underwrite.

Project Nova and a shift from treasury to financial services

Metaplanet’s study is not presented as a standalone research project. The company linked it to Project Nova, a broader initiative it announced earlier in 2026 to build a Bitcoin financial services ecosystem in Japan. Under that framing, Metaplanet portrays Bitcoin as “productive collateral on the balance sheet,” rather than a held asset with only treasury-oriented value.

The company says Project Nova is designed to deliver new yield products and capital market access to both retail and institutional investors in Japan, explicitly bridging conventional securities markets and digital asset markets. In that context, the joint study on Bitcoin-backed digital credit appears to be a logical next step: if Bitcoin can support structured credit products, it could become a foundation for generating returns rather than simply holding exposure.

Metaplanet has been actively reshaping its business infrastructure around that ambition. In June, it announced plans to acquire Siiibo Securities and rename it Metaplanet Securities. Earlier, in March, it established a new venture firm, Metaplanet Ventures, to support Bitcoin ecosystem development in Japan.

Why tokenized credit is gaining attention

Beyond Metaplanet’s internal strategy, the company’s push toward tokenized credit aligns with broader momentum in the tokenized real-world asset sector. RWA.xyz data referenced by Metaplanet shows the $33 billion tokenized RWA market, with asset-backed credit identified as the third-largest segment at $2.3 billion and tokenized corporate credit as the fifth-largest segment at $1.76 billion.

Even so, the joint study’s emphasis on proof-of-concept and product design underscores that tokenization alone does not guarantee credit market viability. The biggest unresolved issues—likely including investor protections, collateral management, settlement mechanics, and how risk is reflected in the structure—are precisely what the study says it will evaluate.

Metaplanet’s approach also echoes a recurring theme in institutional Bitcoin playbooks: using structured instruments to raise or allocate capital efficiently. Earlier coverage by Cointelegraph noted that Strategy—described in that reporting as the largest corporate Bitcoin holder—has relied on “digital credit” instruments such as STRC preferred stock to support its Bitcoin acquisition strategy. Metaplanet’s current proposal does not claim a direct match to that model, but it signals that Japanese corporate crypto players are exploring similar concepts adapted to local capital markets and on-chain settlement.

For investors, traders, and market builders, the key question is whether Bitcoin-backed digital credit can be made robust enough for real issuance—especially given Bitcoin’s price volatility and the complexity of credit enhancement. Metaplanet’s study results, and any subsequent decision on issuance, will be the next developments to watch, along with how JPYC settlement and security-token rights management perform in practice.

Key takeaways

• Bitcoin (BTC), Ethereum (ETH), and XRP extended their recovery as geopolitical concerns eased.
• Market sentiment improved after US President Donald Trump said Iran had reached out to discuss a potential agreement.
• Bitcoin has surpassed the key $64,000 resistance level, with a breakout potentially strengthening the short-term outlook.

Bitcoin (BTC) extended its recovery on Friday, climbing above the $64,000 level as improving investor sentiment supported a broader rebound across the cryptocurrency market.

The recovery comes after geopolitical concerns eased following comments from US President Donald Trump, who said Iran had contacted the United States to discuss a potential agreement. 

The remarks fueled hopes of reduced tensions in the Middle East, encouraging investors to return to risk assets.

The positive sentiment also helped Ethereum (ETH) edge closer to $1,800, while XRP stabilized after finding support near key technical levels.

Improving risk appetite supports Bitcoin recovery

Cryptocurrency markets gained ground as fears surrounding the recent escalation in the Middle East began to subside.

Investor confidence improved after Trump indicated that Iran had initiated contact with the United States regarding possible negotiations, raising expectations that diplomatic efforts could help prevent further conflict.

The shift in market sentiment prompted renewed buying across digital assets, allowing Bitcoin to recover toward an important technical resistance zone.

Bitcoin price analysis: Bulls target higher resistance levels

Bitcoin was trading around $64,300 at the time of writing, placing it just below the significant $65,000 resistance area.

Although the recent rebound has strengthened short-term momentum, BTC remains below several key trend indicators, suggesting the broader market structure has yet to turn decisively bullish.

Bitcoin continues to trade beneath the 50-day Exponential Moving Average (EMA) at $65,399, the 100-day EMA ($68,991), and the 200-day EMA ($75,024)

These moving averages form a strong overhead resistance zone that bulls must overcome before confirming a broader trend reversal.

Technical indicators suggest buying momentum is slowly returning. The Relative Strength Index (RSI) has moved above the neutral 50 level, indicating strengthening bullish momentum after weeks of weakness.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains in positive territory, with the MACD line holding above zero and the histogram continuing to expand, signaling that upward momentum is gradually building.

While these indicators favor buyers in the short term, they have yet to invalidate the broader bearish structure.

The first major resistance for Bitcoin sits near the $64,686 horizontal level. A decisive daily close above this area would bring the 50-day EMA at $65,399 into focus. 

If buyers clear that hurdle, attention could shift toward the 100-day EMA at $68,991, followed by the 200-day EMA at $75,024.

Beyond those levels, the next significant long-term resistance lies around $84,410.

On the downside, Bitcoin lacks a strong nearby technical support zone, making the market vulnerable to renewed selling pressure if the current recovery loses momentum. 

In that scenario, traders will likely look to the $60,000 psychological level as the next major area where buying interest could emerge.

For now, improving geopolitical sentiment has provided Bitcoin with short-term support, but bulls will need to reclaim $64,000 and overcome the cluster of moving average resistance to strengthen the case for a sustained recovery.

TLDR

• Apollo Global Management has submitted a £5.7 billion ($7.7 billion) acquisition proposal for EasyJet, pricing shares at 715p each
• The proposal surpasses Castlelake’s competing 690p-per-share offer, setting up a competitive bidding scenario for the UK low-cost carrier
• EasyJet shares climbed 14.75% during London market hours, reaching 674.98p — the strongest level witnessed since February 2022
• Apollo faces an August 7 deadline to formalize its proposal under UK regulatory requirements; Castlelake must decide by August 3
• Both potential acquirers face limitations on complete ownership due to European Union regulations mandating majority European national ownership

EasyJet experienced a substantial stock rally on Friday following Apollo Global Management’s unexpected 715p-per-share acquisition proposal for the British low-cost airline, surpassing a competing proposition from Castlelake and initiating what market observers describe as an aggressive bidding contest.

The all-cash 715p proposition places EasyJet’s valuation at £5.7 billion ($7.7 billion) and delivers a 21.6% premium relative to EasyJet’s prior closing position of 588.20p. Stock performance reached 674.98p during London exchange activity — marking the highest point since late February 2022 — though still below both competing valuations.

easyJet plc, EJTTF

Apollo’s proposition emerged mere days following EasyJet’s preliminary acceptance of Castlelake’s fifth and ultimate bid of 690p per share. EasyJet’s directors indicated they are “no longer minded” to endorse the Castlelake arrangement.

“A bidding war is on,” said Neil Wilson, investor strategist at Saxo UK.

EasyJet announced its board now stands ready to endorse Apollo’s proposition to shareholders, subject to finalizing outstanding transaction terms.

What’s Attracting Buyers

Airport landing rights, a contemporary Airbus fleet portfolio, and a rapidly expanding vacation packages division are regarded as primary attractions for both prospective buyers.

Susannah Streeter, chief investment strategist at Wealth Club, indicated the vacation business was probably a significant draw. Package vacation offerings deliver superior margins and more stable revenue streams compared to airline ticketing, she explained.

Morgan Stanley reported that Apollo intends to support EasyJet’s current strategic direction — expanding its aircraft fleet, increasing ancillary income streams, and developing the vacation packages unit. The financial institution contended EasyJet possesses stronger long-range expansion prospects under private control.

Apollo oversees assets exceeding $1 trillion and brings considerable aviation sector experience, having previously placed capital in Aeromexico, Sun Country Airlines and Atlas Air, while extending financing to Air France-KLM and Virgin Atlantic.

The Ownership Hurdle

A significant complexity confronting both prospective acquirers: European Union and UK regulations mandate that airlines conducting operations within the bloc maintain majority ownership and governance by European nationals.

Castlelake’s framework addressed this requirement by allocating 51% ownership to EU nationals, encompassing aviation industry veterans Peter Bellew and Mark Breen.

Apollo acknowledged it would undertake the required measures to secure a European partnership but has yet to disclose additional specifics.

According to UK takeover regulations, Apollo must present a definitive proposal or withdraw by August 7. Castlelake faces an earlier deadline of August 3.

Apollo shares declined 1.1% during U.S. premarket trading following the disclosure.

In May, EasyJet disclosed that first-half losses expanded 27% to £377 million, with escalating fuel expenditures linked to the US-Iran conflict identified as a primary contributor. The carrier warned that the second half would likewise experience impacts.