EasyJet has agreed to a £5.7 bn takeover by US investment firm Apollo after rival bidder Castlelake withdrew its bid, concluding a heated battle for control of the low‑cost carrier.
Under Apollo’s proposal, EasyJet shareholders will receive £7.15 per share, a valuation that exceeds Castlelake’s earlier offers.
Founded in 1995 by Sir Stelios Haji‑Ioannou, EasyJet operates over 1,200 routes in 35 European countries and employs more than 19,000 staff. Sir Stelios, who owns around 15 % of the company, said he will continue to invest as a long‑term shareholder in the new chapter for EasyJet.
Apollo highlighted its commitment to supporting EasyJet’s existing strategy and noted a significant opportunity to accelerate the airline’s operational and commercial ambitions. “EasyJet is a leader in European aviation, having built a differentiated market position through its compelling customer proposition, expansive network and strong brand,” explained Alex van Hoek, Apollo’s partner and European private‑equity lead.
EasyJet CEO Kenton Jarvis welcomed the partnership, adding, “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.”
