EasyJet has agreed to a £5.7bn takeover by US firm Apollo, according to BBC Business. The agreement was announced after rival suitor Castlelake said it was dropping out of the bid battle for the no-frills airline, BBC Business reported. The transaction would place one of Europe's largest carriers under the ownership of the US buyer.
Deal at a glance
The key facts reported by BBC Business:
| Item | Detail |
|---|---|
| Deal value | £5.7bn |
| Buyer | Apollo (US firm) |
| Target | EasyJet |
| Rival bidder | Castlelake — dropped out |
| Employees | More than 19,000 |
| Routes | Around 1,200 |
| Countries served | 35 European countries |
| Founded | 1995 |
| Founder | Sir Stelios Haji-Ioannou |
The bidding contest
The deal was announced after rival suitor Castlelake said it was dropping out of the bid battle for the no-frills airline.
BBC Business reported that the agreement was announced after Castlelake said it was dropping out. That makes Castlelake the only rival bidder named in the report and Apollo the agreed buyer. The report, published on 6 August 2026, describes Apollo as a US firm and EasyJet as one of Europe's largest airlines.
Castlelake's decision to withdraw leaves Apollo as the buyer identified in the agreement. The £5.7bn price is the headline financial figure stated in the report.
EasyJet at a glance
EasyJet is one of Europe's largest airlines, according to BBC Business. It employs more than 19,000 people and flies around 1,200 routes across 35 European countries. The airline was founded by Sir Stelios Haji-Ioannou in 1995. BBC Business said it was created to offer cheap air fares to Europe from the UK.
- Employees: more than 19,000
- Route network: around 1,200 routes
- Geographic coverage: 35 European countries
- Founded: 1995
- Founder: Sir Stelios Haji-Ioannou
- Model: no-frills airline
Key parties
| Party | Role |
|---|---|
| Apollo | Agreed buyer |
| EasyJet | Takeover target |
| Castlelake | Rival suitor that dropped out |
| Sir Stelios Haji-Ioannou | Founder of EasyJet |
What the deal means
The agreed acquisition assigns a £5.7bn price to a carrier with more than 19,000 employees and around 1,200 routes across 35 European countries, according to BBC Business. The report names Apollo as the buyer and Castlelake as the rival bidder that dropped out. It identifies no other suitors.
For investors and executives monitoring airline transactions, the key reported facts are the deal value, the identity of the buyer, and the withdrawal of Castlelake. EasyJet's status as one of Europe's largest airlines, and its network across 35 European countries, provide the scale context for the £5.7bn takeover. The airline's founding mission, to offer cheap air fares to Europe from the UK, remains part of the company's reported background as the deal proceeds under the agreed Apollo takeover.
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