Budget airline EasyJet confirmed Tuesday it would be open to considering a potential takeover offer from investment firm Castlelake, which has disclosed a minimum valuation of $4.12 billion for any potential bid.

The British low-cost carrier characterized the timing of Castlelake's disclosure as "opportunistic," noting that its share price has been depressed due to ongoing instability in the Middle East region. EasyJet's stock price surged following news of the potential offer.

EasyJet's board stated that no formal discussions have yet taken place with Castlelake regarding a potential transaction. The airline emphasized it remains confident in its current strategic direction and business plan.

Castlelake, a Minneapolis-based alternative investment firm, has not provided details about the structure or timeline of any potential offer. The firm manages approximately $23 billion in assets across various sectors including aviation and transportation.

The potential takeover interest comes as the airline industry continues to navigate challenges including fluctuating fuel costs, geopolitical tensions affecting travel patterns, and varying recovery rates across different markets following the pandemic.