Apollo’s £5.7bn easyJet takeover expected to close early next year

Apollo Global Management’s proposed £5.7bn acquisition of EasyJet remains on course to complete in early 2027, according a report by Bloomberg citing comments from the airline’s chief executive, Kenton Jarvis, although regulatory approval is still outstanding.

Speaking at an Airlines for Europe meeting in Brussels on Thursday, Jarvis said he had not detected significant shareholder opposition to the transaction, while acknowledging that the regulatory outcome remained uncertain. easyJet is expected to publish the scheme document next Thursday, setting 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. 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.

The deal must also 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 transaction has been structured to comply with the ownership rules.

easyJet will retain its existing name after the acquisition closes, Jarvis confirmed in his first media interview since the agreement was announced.