EasyJet Agrees to £5.7 Billion Takeover by Apollo Global Management
easyJet has agreed to a £5.7 billion takeover by US private equity firm Apollo Global Management. The deal came after rival bidder Castlelake withdrew from the race. Shareholders will receive £7.15 in cash for each share. ezstandalone.cmd.push(function () { ezstandalone.showAds(119); }); The agreement marks the end of a weeks-long bidding battle for the low-cost airline. Apollo stepped in with a higher offer after EasyJet had earlier reached a deal in principle with Castlelake. How the Bidding Unfolded Castlelake first approached easyJet in late May and early June 2026. The airline rejected several offers. EasyJet said those bids undervalued the company. In early July the two sides agreed terms at £6.90 per share. That valued EasyJet at about £5.5 billion. ezstandalone.cmd.push(function () { ezstandalone.showAds(127); }); Apollo then submitted a better proposal. easyJet’s board switched its support. Apollo’s offer valued the airline at £5.7 billion. Castlelake later confirmed it would not make a formal offer. This cleared the way for Apollo. What Apollo Plans for EasyJet Apollo said it is “highly supportive” of easyJet’s current strategy. The firm sees a clear chance to speed up the airline’s operational and commercial goals. Apollo has followed EasyJet for years. It views the carrier as one of the strongest businesses in global aviation. ezstandalone.cmd.push(function () { ezstandalone.showAds(128); }); The deal includes a cash option and a share alternative. Eligible shareholders can choose to roll some of their holding into the new private company. EasyJet founder Sir Stelios Haji-Ioannou and his family have given strong support. They will keep a significant stake and remain long-term shareholders.EU rules require majority European ownership and control of airlines. Apollo plans to meet this by giving the Haji-Ioannou family and other EU-based investors roughly half the business. ezstandalone.cmd.push(function () { ezstandalone.showAds(129); }); Matti Blume, CC BY-SA 4.0, via Wikimedia Commons Impact on Staff and Operations Apollo has pledged not to cut jobs for at least 12 months after the deal completes. Some roles linked to stock market listing requirements may go if easyJet becomes a private company. Flights and day-to-day operations will continue as normal. The EasyJet brand will stay in place. Apollo will keep the existing licensing deal with easyGroup, the company controlled by Sir Stelios. Board and Shareholder Views EasyJet chairman Sir Stephen Hester said the board carefully weighed the offer against the airline’s standalone prospects. He noted the proposal gives shareholders clear and attractive value. ezstandalone.cmd.push(function () { ezstandalone.showAds(130); }); Chief executive Kenton Jarvis welcomed Apollo’s aviation experience. He said it makes the firm a strong partner. The transaction still needs shareholder approval and regulatory clearances. Completion is expected in the first quarter of 2027. Once finished, EasyJet will leave the stock market and operate as a private company. Conclusion The takeover ends a period of uncertainty for easyJet. Shares had fallen sharply earlier in the year amid higher fuel costs and market pressures. The bidding process pushed the share price higher again. ezstandalone.cmd.push(function () { ezstandalone.showAds(131); }); Apollo brings access to capital and long-term flexibility. Private ownership should help easyJet focus on fleet upgrades, ancillary revenue and its holidays business. The airline will keep its low-cost model while gaining a supportive new owner. This agreement delivers certainty for shareholders and a clear path forward for one of Europe’s best-known budget carriers.
