UK low‑cost carrier EasyJet is being taken over by US firm Apollo in a £5.7bn deal after Castlelake withdrew its bid.
US investment firm Apollo (owner of Wagamama parent The Restaurant Group) has agreed to buy EasyJet for £7.15 per share, a premium that reflects Apollo’s confidence in the airline’s growth potential.
The takeover was announced after Castlelake – which had previously made several offers – announced its withdrawal from the bidding war. Apollo vows not to cut any jobs in its first 12 months, signalling continuity for the airline’s more than 19,000 employees.
EasyJet, which flies around 1,200 routes across 35 European countries, remains a key player in trans‑European aviation. The Haji‑Ioannou family, still holding roughly 15% of the business, will stay long‑term shareholders.
Approval from regulators, including EU authorities that require majority EU‑based ownership, is still needed. Apollo plans to ensure EU shareholders hold about half of EasyJet’s shares.
If the take‑over leads to delisting, some roles related to public‑listing operations may be eliminated, though Apollo emphasizes the loss will be limited.
Industry analysts note that while the offer is above the airline’s recent trading price, it falls short of pre‑pandemic highs. Nevertheless, Apollo’s backing of EasyJet’s strategy could accelerate operational and commercial ambitions.
EasyJet’s chief executive Kenton Jarvis welcomed the partnership, stating Apollo’s experience in aviation makes it a strong ally for the company’s future.
