# Apollo finalises £5.7bn easyJet acquisition > Live situation record from CLSTR: https://clstr.news/situations/us-privateequity-acquisition-bids-for-easyjet > Updated: 2026-08-17T06:26:00.000Z. Sources: 178. Developments: 8. On 6 August 2026, Apollo Global Management confirmed an all-cash offer of £7.15 per share for easyJet, valuing the carrier at approximately £5.7bn. This represents an 81% premium to the pre-announcement price and follows the withdrawal of rival bidder Castlelake. Prior to Apollo's confirmation, easyJet had extended the deadline for Castlelake to submit a binding offer to 7 August, though Apollo’s bid was noted as being higher than Castlelake’s £6.90 per share proposal. The deal, which targets completion by the end of Q1 2027, is subject to shareholder, court, and regulatory approvals in the UK, Austria, Egypt, and Germany. To comply with EU rules requiring majority European ownership, Apollo will hold up to 49.9% of the new holding company, while an EU-based trust may own up to 5% and the founder’s family retains a significant stake. Upon completion, easyJet will be delisted from the London Stock Exchange. Following the announcement, the easyJet board unanimously recommended the takeover. 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 on a 1:1 basis. Apollo has pledged to maintain the airline’s UK and EU headquarters, operating certificates, and workforce, with no job cuts planned for at least 12 months post-completion. The firm also intends to continue existing strategies regarding fleet modernisation and loyalty programs. Amidst the takeover proceedings, easyJet reported a 70% plunge in second-quarter pre-tax profits, falling to £85m from £286m the previous year, largely due to a £105m increase in fuel expenses from Middle East hostilities. Additionally, speculation has emerged regarding potential strategic cooperation between easyJet and Air France-KLM, including possible codeshare or interline agreements starting in 2027. ## Claims - Founder Sir Stelios Haji‑Ioannou and his family will retain about 15 % of EasyJet shares and support the transaction. (disputed by 36 sources) - Apollo will hold up to 49.9 % of the new holding company, with an EU trust limited to 5 % and the Haji‑Ioannou family retaining 45‑49.9 % of the vehicle. (disputed by 2 sources) - Castlelake withdrew its bid, ending the bidding war. (corroborated by 37 sources) - The transaction will result in EasyJet’s delisting from the London Stock Exchange. (corroborated by 37 sources) - The offer represents a 54 % premium over the February‑27 closing price. (corroborated by 36 sources) - Completion is expected by the end of the first quarter of 2027, subject to shareholder, court and regulatory approvals in the UK, Austria, Egypt and Germany. (corroborated by 36 sources) - Apollo Global Management agreed to acquire EasyJet for approximately £5.7 bn (≈$7.7 bn). (corroborated by 25 sources) - Apollo has pledged not to cut staff for at least 12 months after the deal closes. (corroborated by 22 sources) ## Timeline ### 2026-08-17: easyJet agrees to £5.7bn takeover by Apollo Global Management Apollo Global Management has agreed to acquire easyJet for £5.7 billion. Following the news, rumors suggest a potential strategic codeshare partnership between easyJet and Air France-KLM. 2 sources. https://clstr.news/cluster/apollo-global-management-to-acquire-easyjet-for-57-billion-1 ### 2026-08-10: EasyJet faces £5.7bn Apollo takeover and profit plunge Apollo Global Management is pursuing a £5.7 billion takeover of EasyJet, aiming to shift the budget carrier toward a traditional airline model despite regulatory hurdles and rising fuel costs. 4 sources. https://clstr.news/cluster/easyjet-profits-fall-70-amid-potential-57bn-apollo-takeover ### 2026-08-06: Apollo Global Management to buy EasyJet in £5.7 bn deal Apollo Global Management will buy EasyJet for £5.7 bn, offering £7.15 per share, with an 81 % premium. Castlelake withdrew, ending the bidding war. Deal to close by Q1 2027, subject to approvals, and will del‑​ 69 sources. https://clstr.news/cluster/apollo-global-management-to-acquire-easyjet-in-57bn-cash-deal ### 2026-08-03: EasyJet extends deadline for Castlelake bid, aligns with Apollo offer EasyJet gave Castlelake until Aug 7 to submit a binding bid, matching Apollo’s deadline; Apollo’s £7.15 per share offer values the airline at £5.7 bn, above Castlelake’s £6.90. 6 sources. https://clstr.news/cluster/easyjet-extends-deadline-for-castlelake-bid-aligns-with-apollo-offer ### 2026-07-23: EasyJet's 70% Profit Fall Spurs US Takeover Offers and EU Review EasyJet’s profit fell 70 % to £85 m as fuel costs surged from Middle‑East tensions; US funds Apollo and Castlelake are vying to buy the airline, while the EU reviews ownership rules that could affect the deal. 24 sources. https://clstr.news/cluster/easyjet-profits-tumble-70-as-fuel-costs-rise-and-takeover-bids-intensify ### 2026-07-12: Apollo's £7.15 per share offer makes it front‑runner to acquire easyJet Apollo Global Management offered £7.15 per share (~£5.2 bn) to acquire easyJet, outbidding Castlelake’s £6.90 offer; easyJet’s board now favors Apollo, pending regulatory approval. 5 sources. https://clstr.news/cluster/apollo-fund-reaches-agreement-to-buy-easyjet-for-67-bn ### 2026-07-10: Apollo launches £5.7 bn all‑cash bid for easyJet, beating Castlelake Apollo offers £5.7 bn for easyJet, outbidding Castlelake; board backs the bid, shares jump 12‑15 %, but EU ownership rules pose a regulatory hurdle. 39 sources. https://clstr.news/cluster/apollo-offers-57-bn-cash-deal-for-easyjet-outbids-castlelake ### 2026-07-05: EasyJet accepts Castlelake's £5.5 bn takeover offer US fund Castlelake’s £5.5 bn offer for EasyJet, valued at £6.90 per share, was accepted in principle; shares jumped over 10% and the deal awaits EU approval by Aug 3. 64 sources. https://clstr.news/cluster/easyjet-accepts-us-investor-castlelakes-6-billion-takeover-offer --- Cite as: Apollo finalises £5.7bn easyJet acquisition. CLSTR, https://clstr.news/situations/us-privateequity-acquisition-bids-for-easyjet