Bank of America Increases Stake in easyJet

easyJet PLC, a major UK airline, announced a significant change in shareholdings by Bank of America Corporation. According to the "TR-1: Standard form for notification of major holdings" filed with the UK regulatory authorities, Bank of America has adjusted its holdings in easyJet, crossing a new threshold on May 7, 2024.

The notification indicates an increase in total voting rights held in easyJet from 10.591408% to 11.432249%. This change resulted from acquisitions in both direct voting rights and financial instrument-based voting rights. Bank of America now controls 86,657,590 voting rights total, spread across direct shares and various financial instruments including swaps, options, and other derivatives.

This development could suggest a growing confidence by the Bank of America in the business prospects of easyJet or a strategic portfolio adjustment. The detailed regulatory filing includes various classes of shares and types of financial instruments that cumulatively contribute to the Bank's total shareholding percentage.