Bank of America Corporation has disclosed a significant increase in its combined voting position in easyJet plc (EZJ), the UK-listed budget airline, following a threshold crossing on 9 November 2026. The notification, submitted to easyJet the following day, reveals that Bank of America's total position — comprising shares and financial instruments — rose to 8.777225% from a previous 8.671450%. The disclosure was triggered at the legal entity level and was filed under the standard TR-1 major holdings notification requirement, with Merrill Lynch International named as the principal shareholding vehicle.

Key Points

  • easyJet plc (EZJ) — ISIN GB00B7KR2P84, UK-listed budget airline
  • Bank of America Corporation's total combined voting interest in easyJet crossed to 8.777225% on 9 November 2026
  • Direct voting rights via shares stand at 4.048536%; rights through financial instruments account for a further 4.728689%
  • Investors may watch whether Bank of America's position continues to build toward the next regulatory disclosure threshold

Bank of America's Direct Shareholding in easyJet Reaches 4.05% Through Merrill Lynch International

The TR-1 notification confirms that Bank of America Corporation held 30,688,303 voting rights attached directly to easyJet shares as of 9 November 2026, equating to 4.048536% of the airline's total voting rights. The majority of these shares — 30,675,707 — are held under the UK-listed ISIN GB00B7KR2P84, with a further 12,596 voting rights held under a US ISIN. Merrill Lynch International, registered in London, is identified as the key shareholding entity within the Bank of America group for the purposes of this notification, holding a combined direct and instrument-based position of 8.442462% at the entity level.

Cash-Settled Swaps and Options Account for the Majority of easyJet Financial Instrument Exposure

The financial instruments portion of Bank of America's position in easyJet is substantial, totalling 4.728689% of voting rights when both categories are combined. Under 8B2, cash-settled swaps make up the dominant component, with a single swap expiring 30 April 2027 accounting for 31,009,924 voting rights, or 4.090965%. Additional swap positions carry expiry dates ranging from February 2027 to May 2030. Physical options and rights to recall, categorised under 8B1, contribute a further 460,767 voting rights at 0.060786%. A cash-settled put option expiring 16 April 2027 is also disclosed, representing 863 voting rights.

easyJet TR-1 Filing Reflects Legal Entity Level Threshold Crossing Rather Than Group-Level Change

The announcement explicitly states the notification reason as a legal entity level crossing, meaning the trigger relates to movements within Bank of America's internal corporate structure rather than necessarily a straightforward open-market purchase of additional easyJet shares. The full chain of controlled undertakings listed includes Bank of America National Association, Merrill Lynch B.V., U.S. Trust Co of Delaware, BofA Securities Europe SA, and BofA Securities Inc., with Bank of America Corporation identified as the ultimate controlling entity across all disclosed positions. The notification was completed in London on 10 November 2026.

What the Increased easyJet Stake Means for Institutional Investor Monitoring

The combined position of 8.777225% — representing 66,532,244 total voting rights — places Bank of America Corporation among easyJet's more significant institutional stakeholders. The previous notification stood at 8.671450%, meaning the aggregate position has risen by approximately 0.106 percentage points. easyJet operates as one of Europe's largest short-haul carriers, making large institutional positions in its shares a matter of ongoing market interest. Investors may be watching whether further threshold crossings occur at either the entity or group level in subsequent regulatory filings.