Apollo to acquire Easyjet in 5.7 billion pound takeover

Easyjet is set to exit the public equity market after twenty-six years on the London Stock Exchange, following an agreement with Apollo Global Management. The US private equity firm prevailed over competitor Castlelake, valuing the carrier at £5.7 billion, or approximately €6.7 billion. Apollo submitted a cash offer of £7.15 per share, representing an 81 percent increase over the valuation recorded on 28 May 2026, when shares closed at £3.94.

The transaction, expected to close in early 2027, remains contingent on shareholder consent and regulatory clearances, including European airline ownership and control rules. Structurally, the investor plans to introduce preferred shares carrying a 14 percent dividend.

In its third-quarter financial results, Easyjet recorded revenue of nearly £3.0 billion (around €3.5 billion). However, adjusted pre-tax earnings fell by 70 percent to £85 million, impacted by fuel volatility, crew expenses, and yield pressures. Beyond flight operations, the airline's overall valuation relies on balance sheet reserves, airport slots, package holiday services, and firm aircraft delivery slots from Airbus.