EasyJet Agrees to $7.7B Takeover By Apollo

EasyJet has announced it has reached an agreement to be acquired by Apollo Global Management for £6.3 billion, representing approximately $7.7 billion at current exchange rates. The deal will see Apollo taking control of the British airline. Castlelake initially submitted a bid for EasyJet but subsequently withdrew their offer on Thursday. This acquisition marks a significant shift in ownership for the Luton-based carrier. Following regulatory approvals, the transaction is expected to complete during the fourth quarter of 2024.