European budget aviation has spent the better part of the year navigating heavy turbulence. Rising jet fuel costs and geopolitical route disruptions have battered public valuations, pushing market sentiment toward distress levels.
Alternative asset managers see a severe dislocation between public equity pricing and actual free cash flow generation. The recent £5.7 billion (approx. $7.7 billion) cash offer from Apollo Global Management (NYSE: APO) for easyJet (OTCMKTS: EJTTF) highlights the rapid deployment of dry powder into hard-transport assets.
