Key Takeaways
- • Apollo Global Management's proposed £5.7bn acquisition of easyJet remains on course to complete in early 2027, according to Bloomberg, citing comments from easyJet CEO Kenton Jarvis.
- • Regulatory approval is still outstanding, and Jarvis acknowledged the regulatory outcome remains uncertain, though he reported no significant shareholder opposition to the deal.
- • Apollo agreed to acquire the budget carrier in August after rival bidder Castlelake withdrew from the process.
- • The deal must satisfy UK and EU rules requiring airlines to remain majority-owned and controlled by eligible regional nationals; the transaction has been structured to comply with these ownership requirements.
- • easyJet will retain its name post-closing, and founder Stelios Haji-Ioannou's family, which holds a 15.3% stake and supports the deal, will keep a voice at board level.
Summary
Apollo Global Management's proposed £5.7bn acquisition of easyJet remains on course to complete in early 2027, according to a Bloomberg report citing comments from the airline's chief executive, Kenton Jarvis. Speaking at an Airlines for Europe meeting in Brussels, Jarvis said he had not detected significant shareholder opposition to the transaction, while acknowledging that regulatory approval is still outstanding and the outcome remains uncertain. easyJet is expected to publish the scheme document the following Thursday, which will set out further details of the proposed deal.
The US private equity firm agreed to acquire the budget airline in August after rival bidder Castlelake withdrew from the process. If completed, the transaction would give Apollo control of a carrier with a substantial European footprint, including a modern fleet of Airbus A320-family aircraft, valuable landing slots at capacity-constrained airports in London, Milan and Geneva, and an established package holiday business.
easyJet founder Stelios Haji-Ioannou's family remains the airline's largest shareholder with a 15.3% stake. Jarvis said the founder, who supports the acquisition, would retain a voice at board level following the transaction. In his first media interview since the agreement was announced, Jarvis also confirmed that easyJet will retain its existing name after the deal closes.
The transaction must address UK and European rules requiring airlines to remain majority-owned and controlled by eligible regional nationals. As a US-based investor, Apollo cannot take unrestricted control of easyJet under these requirements, but the proposed deal has been structured to comply with the ownership rules.
The US private equity firm agreed to acquire the budget airline in August after rival bidder Castlelake withdrew from the process. If completed, the transaction would give Apollo control of a carrier with a substantial European footprint, including a modern fleet of Airbus A320-family aircraft, valuable landing slots at capacity-constrained airports in London, Milan and Geneva, and an established package holiday business.
easyJet founder Stelios Haji-Ioannou's family remains the airline's largest shareholder with a 15.3% stake. Jarvis said the founder, who supports the acquisition, would retain a voice at board level following the transaction. In his first media interview since the agreement was announced, Jarvis also confirmed that easyJet will retain its existing name after the deal closes.
The transaction must address UK and European rules requiring airlines to remain majority-owned and controlled by eligible regional nationals. As a US-based investor, Apollo cannot take unrestricted control of easyJet under these requirements, but the proposed deal has been structured to comply with the ownership rules.
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