Apollo Global Management's £5.7 bn offer for easyJet

Apollo Global Management has made a cash takeover offer for British low‑cost carrier easyJet at £7.15 per share, valuing the airline at roughly £5.7 billion (about €6.7 billion). The board of easyJet has recommended the Apollo proposal, describing it as “a superior outcome for shareholders” and has withdrawn its support for the competing Castlelake bid of £6.90 per share (£5.5 billion). Following the announcement, easyJet shares rose over 13 % in early trading, reaching their highest levels since early 2022.

Apollo must submit a formal offer by 7 August, while Castlelake’s deadline is 3 August. The transaction will need to satisfy EU rules requiring majority European ownership of airlines operating inside the bloc. Apollo has pledged to retain the easyJet brand and to provide additional capital to support the carrier’s long‑term strategy.