The acquisition landscape for easyJet has shifted following a surprise $7.6 billion proposal from U.S. private equity firm Apollo. This development introduces significant complexity to the potential transaction, as the airline previously indicated support for a lower $6.9 billion offer from investment firm Castlelake.
On July 10, 2026, easyJet informed shareholders that the Apollo proposal represents a superior outcome. Under the terms, shareholders would receive $9.59 per share, compared to the $9.26 per share offered by Castlelake. While the airline has reached an agreement in principle, this does not yet constitute a firm intention to acquire, and Apollo has until August 7, 2026, to solidify its position.
Apollo noted in a statement that it views easyJet as a high-value asset with substantial growth potential. The firm cited the carrier’s fleet transition toward larger aircraft and the expansion of its holiday business as core areas for future development. This move underscores the growing interest from private equity in established low-cost carriers. It remains to be seen if Castlelake will submit a revised bid before the deadline.