Full Breakdown
Apollo Secures £5.7 billion Takeover of EasyJet
8/7/2026, 1:50:31 AM
Core Event
On August 6, US private-equity firm Apollo Global Management announced a firm cash offer to acquire the low-cost carrier EasyJet for approximately £5.7 billion, valuing each share at £7.15. The bid follows the withdrawal of rival bidder Castlelake, which confirmed it would not submit a competing offer. EasyJet’s board has unanimously recommended the proposal, and the airline’s founder Sir Stelios Haji-Ioannou and his family, who own about 15 % of the company, will retain a significant stake in the new ownership structure.
Background & Context
EasyJet, founded in 1995 by Sir Stelios Haji-Ioannou, has grown into one of Europe’s largest airlines, employing more than 19,000 people and operating around 1,200 routes across 35 countries. In late May, media reports indicated that Castlelake was considering a bid, prompting a brief bidding war. Castlelake initially offered £6.90 per share (about £5.5 billion) but withdrew after Apollo presented a higher offer of £7.15 per share. The takeover is expected to be completed by the end of March 2027, subject to shareholder and regulatory approvals.
Data & Statistics
- Offer value: £5.7 billion (? €6.65 billion)
- Share price offered: £7.15 per share
- EasyJet workforce: > 19,000 employees
- Network: ~1,200 routes in 35 European countries
- Bristol base (relevant to South Wales travelers): 20 aircraft serving ? 90 destinations
Official Statements & Responses
The firm also pledged no staff cuts for at least 12 months after the transaction, though it warned that a limited number of roles tied to the airline’s public-listed operations could be eliminated if EasyJet delists.
EasyJet chief executive Kenton Jarvis welcomed the partnership, emphasizing Apollo’s aviation experience as a strength for the carrier.
Verbatim Quotes
- “We welcome Apollo's commitment to our business and our people, and believe that its experience in the aviation sector makes it a strong partner for EasyJet.” — Kenton Jarvis, easyjet chief executive
- “EasyJet is a leader in European aviation, having built a differentiated market position through its compelling customer proposition, expansive network and strong brand,” — Alex van Hoek, partner and European private equity lead at Apollo
- “EasyJet is a leader in European aviation, having built a differentiated market position through its compelling customer proposition, expansive network and strong brand. Apollo strongly supports easyJet’s commitment to enhancing the connectivity of travellers throughout Europe and the UK and the important role that its employees play in serving customers.” — Stephen Hester, easyjet chairman
What’s Next
The transaction requires approval from EasyJet shareholders, the UK Takeover Panel, and EU competition authorities, which must ensure that a majority of the airline’s owners are EU-based. Apollo plans to meet this requirement by allocating roughly 50 % of the equity to the Haji-Ioannou family and other EU shareholders. A detailed scheme document is expected by early September, after which shareholders will vote at separate Court and General Meetings. If approved, EasyJet will be delisted from the London Stock Exchange and become a privately held company.
