EasyJet Agrees £5.7bn Takeover Deal with US Investment Firm Apollo

EasyJet, one of Europe's largest low-cost airlines, has struck a £5.7 billion deal to be acquired by Apollo Global Management, the US private equity and credit investment firm, marking one of the largest takeovers in British aviation history. The board of directors unanimously recommended shareholders accept the offer, which values each share at £7.15.

Competing Bid Withdrawn

The agreement follows weeks of takeover speculation after a rival offer from Castlelake, another US investment firm, was formally withdrawn. Apollo had emerged as the preferred bidder, and negotiations concluded with the deal announced on Wednesday morning. EasyJet's share price had surged in recent weeks as the bidding battle played out.

Scale of the Business

EasyJet operates more than 1,200 routes across Europe and beyond, employing over 19,000 people. The airline serves more than 100 airports and carries tens of millions of passengers each year. Apollo has indicated it intends to continue operating EasyJet as a standalone business and does not plan immediate workforce reductions.

Founder's Family Stake

Sir Stelios Haji-Ioannou, the Greek-Cypriot entrepreneur who founded EasyJet in 1995, and his family hold approximately 15% of the shares. While the family has not publicly endorsed the offer, the £7.15 per share price represents a significant premium to EasyJet's pre-bid share price, making acceptance financially attractive. Stelios has historically been a vocal critic of EasyJet's management and strategy.

The deal is subject to shareholder and regulatory approval and is expected to close in late 2026. Apollo manages over $700 billion in assets globally and has been expanding its aviation portfolio in recent years.