EasyJet has agreed to be taken private by Apollo Global Management in a recommended cash deal valuing the UK low-cost carrier at about £5.7 billion. Under the terms of the transaction, Apollo will pay £7.15 per share through its Eagle Bidco vehicle, with the airline’s board backing the offer after rival bidder Castlelake withdrew.
The acquisition would end easyJet’s run as a listed company if completed. Apollo has structured the transaction to comply with airline ownership and control rules, limiting its stake to 49.9%, while the company’s founder Sir Stelios Haji-Ioannou and his family are understood to support the move.
The deal is expected to close around the first quarter of 2027, subject to shareholder and regulatory approvals. It comes amid continued private-equity interest in aviation assets and could reshape ownership in Europe’s budget-airline sector. EasyJet’s shares had already reacted to the bidding process as Apollo emerged as the preferred buyer.