Following an official announcement on 10 July 2026, the budget airline easyJet plc has shared an update regarding a new potential takeover by Apollo Management X, L.P., on behalf of its managed investment funds (Apollo). You can review the full history of announcements on the official easyJet Regulatory News Feed.

What is the history of the takeover approaches?

This potential deal comes after a number of earlier offers from a different firm, Castlelake, which have now been superseded:

  • Late May & June 2026: News broke that Castlelake was considering making an offer for the airline, but their first three proposals were rejected.

  • 25 June 2026: easyJet confirmed rejection of Castlelake’s fourth proposal of £6.50 per share because the Board felt it undervalued the company, but at this time easyJet extended the deadline by which Castlelake was required to make a firm offer or walk away, along with providing limited access to commercial information.

  • 4 July 2026: Castlelake came back with a higher, fifth proposal.

  • 5 July 2026: easyJet and Castlelake jointly announced that the easyJet Board was minded to recommend the financial terms of a £6.90 per share proposal.

  • 8 July 2026: A new offeror, Apollo, submitted a higher proposal of £7.15 per share in cash.

  • 10 July 2026: The easyJet Board announced it has reached an agreement in principle with Apollo on these new terms and is no longer minded to recommend the Castlelake proposal.

What is the current status of the takeover bid?

As of 10 July 2026, the easyJet Board and Apollo have an agreement in principle on the main financial terms of a cash offer.

Important Note: This is still just a possible offer, and there is no certainty that any firm offer will be made. Apollo has not officially committed to a final, binding bid yet, and there is no guarantee that a final deal will actually happen. Dedicated official updates on this specific proposal are hosted on the easyJet Possible Offer from Apollo Page.

Will easyJet still exist if the takeover happens?

Yes. Apollo attaches great importance to the strength of the easyJet brand and intends that it will remain in use following the completion of the transaction. Apollo plans to keep the current brand licence agreement between easyJet and easyGroup Ltd in place without any changes.

Will my flight happen / Should I still buy flights with easyJet?

Yes, easyJet’s flights continue to operate as normal.

How much is Apollo offering to pay?

Under the latest proposal, easyJet shareholders would be entitled to receive £7.15 per share in cash. This proposed cash offer values the fully diluted ordinary share capital of easyJet at approximately £5.7 billion. The offer also includes an alternative option, known as a "Stub Equity Alternative," which allows eligible shareholders to roll their existing shares into Apollo's investment vehicle to maintain a stake in easyJet's future growth alongside the Apollo funds.

When is the final deadline for Apollo to decide?

The UK Takeover Panel has set a new PUSU deadline for the new offeror. Apollo now has until 5:00 pm on Friday, 7 August 2026, to do one of two things:

  • Announce a firm offer to buy easyJet.

  • Walk away and announce that they do not intend to make an offer.

This deadline could be extended further at the request of easyJet and with the consent of the Takeover Panel.

What does Apollo plan to do with easyJet?

Apollo believes in easyJet’s existing strategy of evolving and strengthening the low-cost carrier model and believes easyJet management’s operational and commercial ambitions can be substantially accelerated. They explicitly support the following initiatives:

  • Continuing the ongoing fleet modernization and upgauging strategy.

  • Enhancing the airline's ancillary and loyalty offerings.

  • Scaling the easyJet Holidays business into a structurally differentiated earnings stream.

  • Identifying and retaining key staff, recognizing the important contribution of easyJet’s employees to the company's past and future success.

What should easyJet shareholders do right now?

The easyJet Board has explicitly advised shareholders to take no action at this time. The company will share more updates as the situation develops and in line with the UK Takeover Code requirements. Shareholders can track all official disclosures, documentation, and individual dealing updates via the easyJet Regulatory News Feed.

All official documents related to this potential deal can be found on the easyJet Investor Relations Hub and on Apollo's corporate website.