Full Breakdown
EasyJet’s £5.7 billion Sale to Apollo: Deal Details, Regulatory Hurdles, and Union Pushback
By Drooid · · How we work
Deal Overview and Valuation
EasyJet confirmed that its sale to U.S. private-equity firm Apollo Global Management remains on schedule for completion before the end of the first quarter of 2027. The cash offer values the airline at approximately £5.7 billion, translating to 715 pence per share. The board continues to recommend the transaction, and the airline’s share price rose toward its 52-week high following the announcement.
Regulatory and Ownership Structure
EasyJet reported having secured provisional approvals from aviation regulators in Austria, the United Kingdom, France, Germany and Malta, while additional clearances are still pending in those and other jurisdictions. Because European airline operating rights require majority ownership and effective control by eligible European interests, Apollo has proposed a governance framework intended to preserve European-majority control after the deal. The firm argues that the structure satisfies the regulatory requirement, a key obstacle for private-equity takeovers of tightly regulated European carriers.
Union Opposition and Employee Concerns
Employee representative bodies in France, Portugal and Spain also declined to endorse the deal, while unions in the United Kingdom and Germany adopted neutral positions on the financial terms. Prospect, in an 20 August statement, called for greater transparency on Apollo’s financing plans and warned that the airline could eventually be broken up, urging stronger, longer-term employment guarantees.
Upcoming Votes and Next Steps
EasyJet will hold court and shareholder meetings during the week beginning 9 November, with a combined court and general meeting scheduled for 11 November 2026, when shareholders will vote on the proposal. Completion of the transaction remains conditional on shareholder approval, the receipt of all outstanding regulatory clearances, and final court sanction. Apollo has outlined plans to broaden EasyJet’s commercial offering through a new loyalty programme, premium travel products and additional revenue-generating services, though detailed implementation timelines have not been disclosed.