Apollo Global Management’s proposed £5.7bn acquisition of easyJet remains on course to complete in early 2027, with regulatory approval still outstanding, according to Private Equity Wire.
Timeline and current status
The expected early-2027 completion timetable was reported by Bloomberg, which cited comments from easyJet chief executive Kenton Jarvis, according to Private Equity Wire.
Jarvis made the comments while speaking at an Airlines for Europe meeting in Brussels on Thursday, according to the same report.
Jarvis said he had not detected significant shareholder opposition to the transaction, while also acknowledging that the regulatory outcome remained uncertain, according to Private Equity Wire.
Next steps and documentation
easyJet is expected to publish the scheme document next Thursday, and the document is set to provide further details of the proposed deal, according to Private Equity Wire.
Deal background and assets referenced
Apollo, described as a US private equity firm, agreed to acquire the budget airline in August after rival bidder Castlelake withdrew from the process, according to Private Equity Wire.
The report said the transaction would give Apollo control of a carrier with a substantial European footprint, including a modern fleet of Airbus A320-family aircraft, valuable landing slots at capacity-constrained airports in London, Milan and Geneva, and an established package holiday business, according to Private Equity Wire.
Ownership, governance, and regulatory constraints
easyJet founder Stelios Haji-Ioannou’s family remains the airline’s largest shareholder with a 15.3% stake, according to Private Equity Wire.
Jarvis said the founder supports the acquisition and would retain a voice at board level following the transaction, according to Private Equity Wire.
The deal must address UK and European rules requiring airlines to remain majority-owned and controlled by eligible regional nationals, according to Private Equity Wire.
As a US-based investor, Apollo cannot take unrestricted control of easyJet under these requirements, but the proposed transaction has been structured to comply with the ownership rules, according to Private Equity Wire.
Jarvis confirmed that easyJet will retain its existing name after the acquisition closes, in what the report described as his first media interview since the agreement was announced, according to Private Equity Wire.
Context: In the UK and EU, airlines are subject to ownership and control rules that can restrict non-regional investors from taking unrestricted control.
