EasyJet agrees to rival £5.7bn takeover bid
EasyJet has agreed in principle to a £5.7bn takeover bid from US firm Apollo Global Management. The airline rejected a previous offer from Castlelake, citing the superior value of the Apollo proposal for its shareholders.
Why it matters
This acquisition highlights the ongoing consolidation in the European aviation sector and the high value placed on prime airport slots.
Image source, Getty Images By Nick Edser Business reporter Published 10 July 2026, 07:30 BST Updated 3 hours ago No-frills airline EasyJet says it has agreed in principle to a £5.7bn takeover proposal from US firm Apollo Global Management - just days after accepting an offer from a rival suitor.
The carrier said Apollo's offer delivered "a superior outcome" to investors than the previous bid from US investment firm Castlelake that EasyJet had also agreed to in principle at the weekend.
EasyJet is one of Europe's largest airlines. It employs more than 19,000 people, and flies around 1,200 routes across 35 European countries.
It was founded by Sir Stelios Haji-Ioannou in 1995 to offer cheap air fares to Europe and, together with other carriers such as Ryanair, has transformed UK air travel.
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