EasyJet agrees to £5.7bn takeover by Apollo

EasyJet has agreed to a £5.7 billion takeover by US investment firm Apollo Global Management, the companies announced on August 6, 2026. The deal comes after rival bidder Castlelake withdrew from the contest for the budget airline.

The acquisition will see Apollo take control of one of Europe’s largest carriers, which employs more than 19,000 people and operates around 1,200 routes across 35 European countries. EasyJet passengers and staff are directly affected, though no immediate changes to operations were detailed.

The takeover marks a significant shift in ownership for a major player in European aviation, potentially influencing competition and pricing in the no-frills travel market. Apollo’s move underscores continued private equity interest in the airline sector.

The £5.7 billion valuation was confirmed in the August 6 announcement, following Castlelake’s decision to drop out of the bidding. EasyJet, founded by Sir Stelios Haji-Ioannou in 1995, pioneered low-cost air travel from the UK to Europe.

Castlelake’s exit cleared the path for Apollo’s offer, ending a bid battle that had drawn attention to the airline’s strategic value. The deal is subject to shareholder and regulatory approvals, with completion expected in the coming months.