Private equity firm Apollo has agreed to acquire UK airline EasyJet in a deal valued at $7.7 billion, according to CNBC. The agreement comes after rival bidder Castlelake withdrew from the process.
The transaction, reported on Thursday, marks a significant shift for the budget carrier. CNBC notes that Apollo’s winning offer emerged only after Castlelake stepped aside, clearing the path for the US-based investor to finalize terms with EasyJet’s board.
EasyJet’s decision to accept Apollo’s proposal follows a period of heightened interest from multiple financial buyers. The airline, one of Europe’s largest low-cost carriers, has faced pressure from rising fuel costs and operational challenges in recent years, though the reporting does not detail specific financial figures beyond the headline valuation.
The deal is expected to take EasyJet private, removing it from public markets. Apollo’s move signals continued appetite among private equity firms for major European aviation assets, even as the sector navigates uneven demand and regulatory scrutiny.
What to watch next: Whether shareholders approve the takeover and how regulators in the UK and EU respond to the change in ownership.
