EasyJet has formally agreed to a £5.7bn takeover by US private equity firm Apollo Global Management. The airline announced its acceptance of a firm offer on Thursday, 5 August 2026, after rival bidder Castlelake stated it would no longer pursue its own acquisition.
The deal will proceed at £7.15 per share, an offer Apollo tabled last month after easyJet had initially recommended a sale to Castlelake. The formal agreement was reached 24 hours before a deadline for both parties to submit a final offer, with Castlelake declining to enter a bidding war.
Under the agreement, easyJet founder Stelios Haji-Ioannou and his family will retain their shareholding. Shareholders have the option to either sell or transfer up to a maximum of 49.9% of their shares. An "EU Trust" shareholding group will retain up to 5%, a structure reportedly designed to comply with EU foreign ownership rules for airlines, limiting Apollo to 49.9%.
Apollo has committed to retaining easyJet’s UK and EU head offices and has indicated support for the airline's current strategy, aiming to generate long-term, sustainable growth. The takeover is expected to be completed by the end of March 2027.