EasyJet extends deadline for Castlelake bid, aligns with Apollo offer

British low‑cost carrier EasyJet has extended the deadline for US fund Castlelake to submit a binding offer until 17:00 GMT on Friday 7 August, matching the same deadline already set for rival Apollo Management. Apollo’s proposal of £7.15 per share values EasyJet at about £5.7 billion, which is higher than Castlelake’s £6.90 per share offer. The EasyJet board stressed that there is no guarantee a firm bid will be presented. Apollo’s bid is backed by Barclays, and UK/EU rules require that control of the airline remain with regional shareholders. EasyJet employs more than 19,000 staff, operates roughly 1,200 routes across Europe, and reported pre‑tax profit of £85 million for April‑June, down 70% year‑on‑year due to higher fuel costs and weaker demand.