EasyJet has agreed to a £5.7bn takeover by US firm Apollo, with the airline's CEO welcoming the deal as a strong partnership that will allow EasyJet to accelerate its operational and commercial ambitions. The offer of £7.15 per share is significantly above EasyJet's pre-Iran war trading price, but below its pre-pandemic highs according to AJ Bell's head of financial analysis Danni Hewson. Apollo has pledged not to cut any jobs for at least 12 months after the takeover, and aims to make the Haji-Ioannou family and other EU-based shareholders majority owners in order to secure regulatory approval from the EU. EasyJet employs over 19,000 people across Europe, with around 15% of the business still owned by its founder Sir Stelios Haji-Ioannou and his family.
Written by the local model on 2026-08-21,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
EasyJet has agreed to be taken over by US firm Apollo in a £5.7bn deal, after rival bidder Castlelake dropped out of the bid battle. This ends uncertainty surrounding the airline's ownership, which began in late May when Castlelake started considering a bid for EasyJet. Apollo plans to help EasyJet grow and does not intend to cut any jobs in the first 12 months after the takeover is completed, suggesting passengers can expect a similar service. EasyJet employs over 19,000 people and flies 1,200 routes across 35 European countries. The airline was founded by Sir Stelios Haji-Ioannou in 1995, who still owns around 15% of the business with his family. They have expressed support for Apollo's plans to create growth at EasyJet, and will remain invested as shareholders for the next chapter in the company's journey.
Written for “EasyJet Takeover Bid” on 2026-08-31,
grounded in this article and the 0 other(s) covering the same event.
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No political leaning scored for article 677 · logged 2026-08-27
- Published
No-frills airline EasyJet has agreed to be taken over in a £5.7bn deal by US firm Apollo after a rival bidder dropped out.
asserted
bidder → publish → Apollo
The takeover was agreed after US investment firm Castlelake, which had made a series of offers for the carrier, said it was withdrawing from the bid battle.
asserted
it → agree → battle
Apollo said it wants to help the airline grow and that it does not intend to cut any jobs in the first 12 months after the takeover has been completed, implying that passengers can expect largely the same service.
EasyJet is one of Europe's largest airlines.
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EasyJet → say → airlines
It employs more than 19,000 people, and flies around 1,200 routes across 35 European countries.
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It → employ → countries
It was founded by Sir Stelios Haji-Ioannou in 1995 to offer cheap air fares to Europe from the UK.
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It → found → UK
Its first flights took off in November 1995 flying from Luton to Glasgow and Edinburgh, with its first international flights the following year.
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flights → take → flights
Sir Stelios and his family still own around 15% of the business, and he said he supported Apollo's plans for the airline "to create more growth".
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airline → own → growth
"My family and I intend to remain invested as long-term major shareholders of EasyJet for the next chapter in the company's journey," he said in a statement.
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he → intend → statement
The future ownership of EasyJet has been uncertain since it emerged in late May that Castlelake was considering a bid for the airline.
uncertain
Castlelake → emerge → airline
Castlelake made a number of approaches for EasyJet, which were rebuffed initially after the carrier accused the US firm of trying to buy it "on the cheap".
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carrier → make → cheap
In early July, EasyJet and Castlelake said they had agreed a deal in principle, but then Apollo - which owns Wagamama parent The Restaurant Group - swooped in with a higher bid.
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which → say → bid
Under the offer from Apollo, EasyJet shareholders will receive £7.15 per share.
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shareholders → receive → share
AJ Bell's head of financial analysis, Danni Hewson said while the offer was significantly above where the company's shares were trading before the Iran war, the figure was "still woefully short of the company's pre-pandemic highs".
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figure → say → highs
Apollo said it was "highly supportive" of the airline's existing strategy, adding there was "a significant opportunity to accelerate the operational and commercial ambitions" for the EasyJet Group.
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it → say → Group
"EasyJet is a leader in European aviation, having built a differentiated market position through its compelling customer proposition, expansive network and strong brand," said Alex van Hoek, partner and European private equity lead at Apollo.
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Hoek → build → Apollo
EasyJet chief executive Kenton Jarvis said "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."
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it → say → EasyJet
The deal will still need to win approval from regulators, including in the EU where rules mean EasyJet's owners will have to be majority EU-based.
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owners → need → EU
Apollo anticipates this can be achieved by making the Haji-Ioannou family, and other EU-based shareholders, owners of around half of the business.
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family → anticipate → business
Apollo said though it does not intend to cut any staff for at least 12 months after the deal goes through, if the deal completes and EasyJet delists from the stock exchange to become a private company, some jobs related to maintaining its public-listed operations could go.
uncertain
jobs → say → operations
The firm said that would be a "limited number of roles in specific areas."
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that → say → areas
AJ Bell's Hewson said the potential loss of another well-known name from London markets will be seen as a blow.
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loss → say → blow
"Air travel might not be as sexy as space travel, but retail investors understand it and names like EasyJet can't easily be replaced," she said.
uncertain
she → understand → EasyJet
