One of Europe’s largest low-cost airlines is preparing for a historic change in ownership after easyJet accepted a takeover agreement worth approximately £5.7 billion, equivalent to about $7.7 billion.
Apollo Global Management will offer easyJet investors £7.15 for each share. If shareholders and regulators approve the transaction, the airline will be removed from the London Stock Exchange and operated as a privately controlled business.
The agreement follows an intense contest between two American investment groups. Castlelake had previously offered approximately £5.5 billion for the carrier, but its withdrawal on 6 August cleared the runway for Apollo’s higher proposal.
EasyJet’s founder, Sir Stelios Haji-Ioannou, and his family support the deal. Instead of selling their entire 15.3% holding for cash, they intend to transfer their investment into the private company that will own the airline, allowing them to remain important long-term shareholders.
Apollo has indicated that it wants to preserve the easyJet name, maintain the airline’s headquarters in the United Kingdom and European Union, and support its existing expansion strategy. Additional private investment could be directed towards renewing aircraft, developing the holiday-package division and improving operational efficiency.
However, the transaction must navigate complex European aviation regulations. Airlines operating within the European Union must remain majority-owned and effectively controlled by qualifying European investors.
Under the proposed structure, Apollo’s direct ownership would be limited to 49.9%. An EU-based trust could hold an additional portion of the company to help protect easyJet’s European operating rights, although regulators will examine whether the arrangement provides genuine European control.
The takeover arrives during a challenging period for the aviation industry. Airlines have been confronting higher fuel prices, disrupted travel routes and uncertainty surrounding demand in conflict-affected regions. EasyJet’s extensive airport slots and strong presence across major European destinations nevertheless make it a valuable long-term asset.
For passengers, immediate changes are unlikely because the easyJet brand, routes and booking services are expected to continue. Over time, private ownership could provide the airline with more freedom to invest without facing the short-term expectations of public-market investors.
The acquisition is expected to be completed by March 2027, subject to shareholder approval and regulatory clearance. Until those conditions are satisfied, easyJet will continue operating as a publicly listed company.
