EasyJet has agreed to be taken over by US private equity firm Apollo in a deal valued at £5.7 billion, or approximately $7.7 billion, paying shareholders £7.15 per share [1, 2, 3, 4, 5, 6, 7, 8]. The acquisition ends months of competitive attempts after rival investment firm Castlelake withdrew from the bid, declining to make an improved offer following its £6.90 per share bid announced in July [1, 9, 2, 3, 4, 5, 6, 7].
EasyJet operates over 1,200 routes across 35 European countries and employs more than 19,000 people [1, 2]. Founded in 1995 by Stelios Haji-Ioannou, the airline has become one of Europe’s largest low-cost carriers [1, 4, 5, 6, 7]. Despite recent challenges, including a 70% drop in pre-tax profits to £85 million in third-quarter 2026 due to soaring jet fuel prices amid Middle East conflicts, EasyJet remains a major industry player [2, 4, 5, 6, 7].
Apollo manages over $1 trillion in assets globally and has previous aviation investments including Aeromexico, Sun Country Airlines, and Atlas Air [2, 4, 5, 6, 7]. Alex van Hoek, an Apollo partner, said, "EasyJet is a leader in European aviation, having built a differentiated market position through its compelling customer proposition, expansive network and strong brand" [1]. EasyJet CEO Kenton Jarvis also welcomed the deal, stating, "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" [1, 8]. Stephen Hester, EasyJet board chairman, added that the offer "fairly reflects the company’s value and provides shareholders with immediate and attractive returns" [8].
Due to UK and EU regulations requiring majority EU ownership, Apollo will not take full control but plans to limit its stake to around 49.9% while seeking European partners [2, 8]. EasyJet’s headquarters will remain in Luton, near London [2, 4, 5, 6, 7, 8].
The acquisition is expected to complete by the end of the first quarter of 2027 [2, 3, 4, 5, 6, 8].
