Apollo will keep EasyJet outside the London Stock Exchange to facilitate further investment and growth, while maintaining the airline’s U.K. and EU headquarters.

Management and the Haji-Ioannou founder family back the deal, with a board recommendation in favor of the takeover.

Apollo is set to acquire EasyJet in a 5.7 billion takeover after Castlelake withdrew from the bidding, paving the way for Apollo to proceed with its offer.

The deal values EasyJet at about 6.7 billion euros and includes a cash consideration of 7.15 pounds per share, representing a premium to pre-bid levels.

The transaction is expected to close by the end of the first quarter of 2027, subject to shareholder approval and regulatory clearances.

Approval hinges on European ownership rules, with Apollo potentially holding up to 49.9% and a U.K./EU fiduciary structure ensuring compliance.

EasyJet’s recent performance amid higher jet fuel costs and geopolitical tensions has pressured profits, underscoring the appeal of a private growth-backed deal.

The acquisition is viewed as a significant strategic shift for European aviation, potentially allowing EasyJet to accelerate fleet growth and expand in growth markets.

Apollo emphasizes EasyJet’s strong brand, extensive network, prime airport slots, and growth prospects as core reasons for the bid, with a commitment to support the airline’s strategy.

Apollo intends to retain EasyJet’s U.K. and EU leadership and expand the company’s growth, including potential growth in the full-service holiday packages business.

Industry observers see the deal as potentially reshaping the sector into a more niche, winner-takes-something landscape as consolidation continues.

Analysts note the premium reflects value for shareholders while long-term growth will depend on integration and execution of growth plans.