The no-frills carrier easyJet has agreed to a £5.7bn takeover by US firm Apollo, according to the BBC, after a competing bidder dropped out of the running.
Key facts
- EasyJet has agreed to be bought by US firm Apollo.
- The deal is valued at £5.7bn.
- A rival suitor dropped out before the agreement, according to the BBC.
The budget airline easyJet has agreed to a takeover by the US firm Apollo in a deal worth £5.7bn, according to the BBC. The agreement marks a significant development for one of Europe’s best-known no-frills carriers.
The BBC reported that the agreement came after a rival suitor dropped out, leaving Apollo to secure the deal. The withdrawal of the competing bidder cleared the path for the US firm to reach terms with the airline.
EasyJet is widely recognised as a low-cost carrier, and the reported £5.7bn value places the transaction among notable deals in the aviation and travel sector. The BBC did not report further details in the material available.
At this stage, the sources available describe the headline terms of the deal rather than its full structure or timeline. Additional specifics about the transaction were not provided in the reporting reviewed.
Why it matters
EasyJet is a household name for budget travellers across Europe, so a change in ownership could have implications for passengers, staff and the wider airline market. A takeover of this scale is also a notable moment for the travel and business sectors.
Frequently asked questions
Who is buying easyJet?
According to the BBC, easyJet has agreed to be bought by the US firm Apollo.
How much is the easyJet takeover worth?
The BBC reports the deal is valued at £5.7bn.
Was there another bidder for easyJet?
Yes. The BBC reports that a rival suitor dropped out before easyJet agreed to the deal with Apollo.