easyJet agrees to £5.7bn takeover by Apollo Global Management

easyJet has agreed to a £5.7 billion takeover by the US private equity firm Apollo Global Management. The deal, which was unanimously recommended by the easyJet board, values shares at 715p each. Under the proposed court-approved scheme of arrangement, shareholders may have the option to accept 715p per share in cash or roll over their shares into Apollo’s unlisted holding company. The acquisition is expected to complete by March 2027, subject to approval.

Apollo reportedly intends to maintain easyJet’s UK and EU headquarters, operating certificates, and workforce, with no job cuts planned for at least 12 months. The firm also plans to continue the airline's existing strategy regarding fleet modernisation and loyalty programs.

Following the takeover announcement, rumors have emerged regarding a potential strategic partnership between easyJet and Air France-KLM. Speculation suggests the airlines may consider a codeshare or interline agreement, allowing Air France and KLM to sell flights operated by easyJet. Such a collaboration could allow Air France-KLM to utilize easyJet as a feeder network for lucrative routes from Paris CDG and Schiphol without the regulatory complexities of a full merger. Neither Air France-KLM nor easyJet has confirmed these reports.