EasyJet to be taken over by Apollo for £5.7bn

US investment firm Apollo has agreed to acquire air‑travel pioneer EasyJet in a £5.7 billion deal after rival Castlelake withdrew its bid.

The offer, set at £7.15 per share, outstripped the price paid by Castlelake and promised no layoffs in the first year of ownership, suggesting a smooth transition for staff and passengers alike.

Deal background

Castlelake had entered into a preliminary agreement earlier in July, but Apollo swooped in with a higher bid that must now be approved by EU regulators who require a majority of buyers to be EU‑based. Both Apollo and EasyJet CEO Kenton Jarvis welcomed the partnership, warning that the airline would retain its network of 1,200 routes across 35 countries.

Ownership and workforce

EasyJet’s workforce of over 19,000 will remain largely intact for at least one year after the sale, though the airline will eventually delist and shed a "limited number" of roles related to its public‑listed functions. Sir Stelios Haji‑Ioannou and his family, who hold around 15 % of the shares, will stay on as long‑term investors.

Regulatory hurdles

Apollo plans to meet European ownership requirements by giving Haji‑Ioannou and other EU‑listed shareholders roughly half of the business. The deal is still subject to antitrust reviews and shareholder approval.

The move comes at a time when the airline industry is recovering from disruptions, and EasyJet’s future growth strategy will rely on Apollo’s experience in aviation and commitment to operational ambition.