Apollo Completes £5.7B Takeover of easyJet, Transforming European Budget Travel Landscape
In a historic shift in European aviation, Apollo Global Management has successfully sealed a £5.7 billion (approximately $7.7 billion) takeover of the British budget airline, easyJet (LSE: EZJ). This concludes a prolonged bidding war, with rival U.S. investment firm Castlelake making multiple counter offers.
The victorious bid by Apollo values each easyJet share at a generous £7.15 in cash — a significant 81% premium over the airline’s share price prior to the takeover rumors. The board of easyJet unanimously endorsed the transaction, with founder Stelios Haji-Ioannou, whose family owns roughly 15.3% of the company, also supporting the deal.
The deal was officially confirmed on August 7, 2026, and is set to take the renowned orange carrier private after a 26-year tenure on the London Stock Exchange. This is subject to shareholder approval, which is anticipated to be finalized in Q1 2027. Apollo has expressed its intention to accelerate easyJet’s existing commercial strategy, with a focus on fleet modernization, enhanced loyalty products, and further expansion of the easyJet Holidays business. However, there have been concerns regarding reports that the airline could be burdened with up to £3 billion in new debt post-acquisition, with credit agency Moody’s already expressing apprehension.
For the time being, passengers will not experience any immediate changes to their flights or services.
Source: Airways Magazine – easyJet Agrees to Apollo Takeover