EasyJet Shareholders Approve $7.6 Billion Takeover by Apollo Global Management
The budget airline will transition to private ownership following a decisive shareholder vote.
1Shareholders Approve Takeover Deal
EasyJet shareholders have overwhelmingly voted to approve a £5.7 billion, or $7.57 billion, acquisition by the private equity firm Apollo. With 97.07% of votes in favor, the deal marks the end of the airline's 26-year tenure on the London stock market. The transaction is expected to be finalized by March 2027.
2Ownership Structure and Valuation
The acquisition price was set at 715p, or $9.50, per share. Under the new structure, Apollo Funds will control up to 49.9% of the company, while rollover shareholders will retain between 45.1% and 49.9%. The EU Trust will hold the remaining 5% stake, transitioning the airline into a privately held entity.
3Founder Support and Context
Sir Stelios Haji-Ioannou, who founded the airline in 1995 and holds a 15% stake with his family, reportedly backed the takeover. The move follows recent internal cost-cutting measures, including consultations to axe approximately 50 head office roles from the 2,300-strong team, signaling a need for the financial stability Apollo provides.
4Apollo's Financial Scale
Headquartered in New York, Apollo managed $840 billion in assets as of 2025, with $99 billion dedicated to private equity. The firm, which also owns the Wagamama restaurant chain, generated $3.5 billion in net income in 2025. This acquisition represents a manageable investment relative to the firm's massive total capital base.
5Operational Continuity Pledges
Apollo has committed to maintaining the status quo, ensuring easyJet remains a standalone business with consistent branding. The airline will retain its UK, Austrian, and Swiss Air Operator Certificates. Furthermore, the firm has pledged to avoid any staff redundancies during the first 12 months following the completion of the acquisition.
6Strategic Shift to Private
Transitioning to private ownership allows easyJet to move away from short-term public market pressures, enabling longer-term strategic planning. Apollo intends to provide the airline with access to additional capital, aiming to optimize existing assets while maintaining the core low-cost product model that has defined the carrier's market position for decades.
7Planned Commercial Enhancements
While the operational structure remains largely unchanged, Apollo plans to implement specific commercial upgrades. The strategy includes developing a more expansive loyalty program to increase customer retention. Additionally, the firm intends to introduce premium elements on select routes, diversifying the current service offering beyond the standard low-cost budget airline model.
8Regulatory and Market Implications
The deal remains subject to standard regulatory approvals before the final transition in March. This acquisition reflects a broader trend of private equity firms targeting established European transport assets. Moving forward, industry observers will monitor how the integration of premium services affects the airline's competitive pricing strategy against other budget carriers.