easyJet Takeover: Apollo Global Management Agrees to $7.7B Deal

The proposed easyJet takeover by Apollo Global Management has reached a definitive agreement valuing the airline at £5.7 billion ($7.7 billion), according to Reuters and Bloomberg. The all-cash deal, priced at 715 pence per share, represents a 54% premium over easyJet's closing price on Feb. 27, and follows rival bidder Castlelake's decision to withdraw from the process rather than raise its offer.

Deal Structure and Regulatory Compliance

To comply with European Union foreign-ownership limits on airlines, the transaction employs a carefully constructed ownership vehicle. Reuters reports the Haji-Ioannou family and other remaining shareholders will retain between 45.1% and 49.9% of the acquiring entity, while an EU management trust will hold up to 5%. Apollo will fund the remaining balance up to the applicable regulatory ceiling — a structure designed to preserve easyJet's EU operating licenses post-close.

Market Impact and Timeline

Shares in easyJet rose following confirmation of the agreement. The deal remains subject to regulatory approval in the EU, with completion targeted by the first quarter of 2027. Analysts view the acquisition as a significant reshaping of competitive dynamics within Europe's low-cost carrier sector, and a marker of deepening private equity interest in airline assets.