EasyJet accepts £5.7 billion takeover offer from Apollo

EasyJet has accepted a £5.7 billion takeover offer from U.S. private-equity firm Apollo Global Management after competing bidder Castlelake withdrew from the contest.

The airline announced the agreement on August 6, 2026. Apollo’s offer values easyJet at £7.15 a share, according to the company announcement reported by The Guardian. The deal remains subject to the steps required for completion, which is expected by the end of March 2027.

EasyJet founder Stelios Haji-Ioannou and his family are set to retain their shareholding under the proposed ownership structure. Other shareholders will be able to sell their holdings or transfer them into the new structure, subject to a maximum of 49.9 percent.

Apollo’s ownership will also be limited to 49.9 percent, while an EU trust structure is expected to hold as much as 5 percent. The arrangement is designed to preserve compliance with European Union rules restricting foreign ownership of airlines.

Apollo has committed to retaining easyJet’s headquarters in the United Kingdom and European Union and said it supports the carrier’s existing strategy. EasyJet chair Stephen Hester said the board concluded that the bid offered shareholders immediate and certain value while recognising the company’s prospects.

The agreement followed Castlelake’s decision not to enter a bidding war, ending a contest that had intensified after easyJet initially recommended a different offer. EasyJet shares recovered after an earlier fall linked to Castlelake’s withdrawal.