Apollo makes £5.7B all-cash bid for EasyJet

M&A · Partnership Impact 4

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Summary · why it matters

Apollo Global Management has made a surprise £5.7 billion all-cash bid for EasyJet, beating an earlier offer from US investor Castlelake that had already put the carrier in play and lifted its share price. The bid signals confidence in Europe’s carriers and Apollo said it would support EasyJet’s existing strategy by upgauging the fleet, enhancing ancillary and loyalty offerings, and scaling the holiday packaging business. Morgan Stanley analyst Axel Stasse noted that, similar to Castlelake’s proposal, meeting EU ownership requirements remains a key hurdle for any non-EU acquisition of an EU airline. EasyJet, founded in 1995, is one of Europe’s largest budget airlines with a dense network at major airports such as Gatwick, Milan Malpensa, and Berlin, though it has faced pandemic losses, high fuel prices, and intense competition from Ryanair and others.

EasyJet PLC ▲

Apollo Global Management LLC Class A ▲

Impact on stocks 5

Industrials▲ · 3 stocks

▲ PositiveCapitalrelevance

EasyJet receives a £5.7B all-cash bid, likely boosting its share price and signaling value.

Southwest Airlines Company

Mentioned

Ryanair Holdings plc

Mentioned

Aging Population▲ · 1 stocks

Apollo Global Management LLC Class A

▲ PositiveCapitalrelevance

Apollo's bid for EasyJet is a major M&A deal, signaling strategic growth and potential returns.

Financials▲ · 1 stocks

Mentioned

Off-coverage companies 1

CastlelakePrivate▼ Negative

Competitionrelevance

Castlelake's earlier offer is beaten by Apollo's higher bid, reducing its chances of acquiring EasyJet.