Apollo Takes Over EasyJet for £5.7bn After Rival Withdrawal

Sun Sep 06 2026 04:43:02 GMT+0000 (Coordinated Universal Time)

US investment firm Apollo has agreed to buy UK low‑cost carrier EasyJet for £5.7bn, taking control after Castlelake withdrew. The deal marks a momentous shift for Europe’s fourth‑largest airline.

EasyJet, one of Europe’s largest low‑cost airlines, was set to be taken over by Apollo for £5.7bn after rival Castlelake pulled its bid. The move follows early July talks that saw Apollo offer a higher price, with EasyJet shareholders receiving £7.15 per share. Founder Sir Stelios Haji‑Ioannou and his family still hold around 15% of the company and plan to remain major investors. Apollo vows to accelerate the airline’s growth, emphasising operational and commercial expansion.

Apollo Takes Over EasyJet for £5.7bn After Rival Withdrawal

No‑frills airline EasyJet has agreed to a £5.7bn takeover by US investment firm Apollo after rival Castlelake withdrew from the bidding war.

The deal was struck after Castlelake, which had pursued a series of offers, decided to exit the battle. EasyJet, employing more than 19,000 people and operating around 1,200 routes across 35 European countries, has long been a staple of budget travel in Europe.

Founded in 1995 by Sir Stelios Haji‑Ioannou, the airline began with flights from London Luton to Glasgow and Edinburgh, quickly expanding internationally. Sir Stelios and his family still own roughly 15% of the company and will continue as long‑term shareholders.

Apollo offered shareholders £7.15 per share, a higher bid than Castlelake’s earlier proposal. Apollo said it is “highly supportive” of EasyJet’s existing strategy and sees significant opportunities to accelerate the airline’s operational and commercial ambitions. “EasyJet is a leader in European aviation, building a differentiated market position through its compelling customer proposition, expansive network and strong brand,” said Alex van Hoek, Apollo’s partner and European private equity lead.

EasyJet chief executive Kenton Jarvis welcomed Apollo’s commitment, noting that the firm’s experience in aviation positions it as a strong partner for EasyJet’s future growth.

The takeover brings an end to uncertainty that had surrounded EasyJet’s ownership since reports surfaced in late May that Castlelake was considering a bid. The airline’s plan going forward, under Apollo’s ownership, promises accelerated expansion and a revitalised focus on customer experience.