EasyJet lands £5.7bn Apollo takeover after rival withdraws

US investment firm Apollo has agreed to purchase UK low‑cost carrier EasyJet for £5.7 billion, a move that comes after rival Castlelake opted to exit the bidding process.

Under Apollo’s offer, EasyJet shareholders will receive £7.15 per share, a figure above the airline’s pre‑war trading level but still shy of its pre‑pandemic highs.

Apollo has pledged not to cut any jobs for at least twelve months after the takeover, assuring customers and staff that service standards will remain unchanged.

EasyJet, founded by Sir Stelios Haji‑Ioannou in 1995, serves over 1,200 routes across 35 European nations and employs more than 19,000 people. The founding family still holds roughly 15% of the shares and will continue to be long‑term major shareholders.

The deal still requires approvals from regulators, notably the EU, which mandates that a majority of the airline’s owners be based in the European Union. Apollo plans to meet this requirement by ensuring EU‑based stakeholders, including the Haji‑Ioannou family, hold about half of the shares.

While the company vows to safeguard jobs for the first year, the transition to a privately held entity may lead to a reduction in roles associated with maintaining a public listing, expected to be a limited number of specialised positions.

Industry analysts view the takeover as an opportunity for Faster growth. Alex van Hoek, Apollo’s European private‑equity lead, highlighted EasyJet’s strong brand and vast network as key assets to be leveraged.

Chief Executive Kenton Jarvis welcomed Apollo’s commitment, noting the firm’s experience in aviation would be a strong partnership for future expansion.

With the deal unfolding, EasyJet’s future ownership now rests on Apollo’s proposed restructuring, pending regulatory clearance.