Apollo Acquires EasyJet for 5.7 Billion Pounds in Major Takeover Deal
British low-cost airline easyJet is set to be acquired by investment firm Apollo for 5.7 billion pounds in a deal taking the carrier private.
British low-cost carrier easyJet, which recently faced economic challenges including a drop in profits due to rising fuel costs, was officially acquired in August 2026 following a competitive bidding war. The winning bidder is investment firm Apollo, via its vehicle Eagle Bidco, which agreed to acquire the airline for 5.7 billion pounds, or approximately 7.5 billion dollars.
The Acquisition Terms and Shareholder Vote
The acquisition process advanced practically with the publication of the official transaction document. The document outlines a cash offer of 7.15 pounds per share, which has received the full backing of easyJet's board of directors. Alternatively, eligible shareholders can elect to receive unlisted shares subject to a three-year lock-up period, though the board has remained neutral on this alternative route.
For the deal to proceed, two pivotal shareholder meetings are scheduled for November 11, where a substantial majority of at least 75% will be required for approval. If the transaction successfully navigates regulatory hurdles and court approvals, easyJet will delist from the London Stock Exchange and become a private company, concluding a roughly 25-year public chapter.
Future Strategy and Impact on Passengers
Passengers can expect operational continuity. Apollo has clarified its intention to preserve the easyJet brand, its UK headquarters, and operating licenses, alongside plans to expand tourism services and modernize the aircraft fleet. The takeover follows months of competing bids, notably from Castlelake, before Apollo secured the deal with a superior offer.
Founded in 1995, easyJet is one of Europe's largest airlines, operating approximately 1,200 routes across 35 countries with over 19,000 employees. Key assets include valuable slot portfolios at major European airports. Regarding its Israel operations, easyJet suspended flights in April 2024 amid security tensions and later confirmed it would not return until the security situation stabilizes. While the acquisition document does not explicitly address a return to Ben Gurion Airport, Apollo's financial backing provides long-term strategic flexibility once conditions improve.
