EasyJet in American hands: $7.7bn Apollo takeover – Haji-Ioannou’s position

Economy airlinestravel EasyJet in American hands: $7.7bn Apollo takeover – Haji-Ioannou’s position Easyjet In American Hands $7.7bn Apollo Takeover – Haji Ioannou's Position Relevant News EasyJet in American hands: $7.7bn Apollo takeover – Haji-Ioannou’s position 7 August 2026 LEGO unveils Greek taverna set in Restaurants of the World (photos) 7 August 2026 Nicosia clears 2,300 abandoned vehicles, with 4,000 more to go (video) 7 August 2026 Newsroom 7 August 2026 FacebookXWhatsAppEmailPrintViber British low-cost airline EasyJet confirmed on Thursday its acquisition by US investment firm Apollo for £5.7 billion, a deal worth around $7.7 billion. The takeover was confirmed after a rival American firm withdrew from the process to acquire EasyJet. “The boards… are pleased to announce that they have reached agreement on the terms of a proposed cash acquisition,” EasyJet, which operates flights mainly across Europe, said in a statement. Earlier on Thursday, American investment group Castlelake said it did not intend to submit a higher offer for the airline, having proposed a takeover worth just over £5 billion. Under UK takeover rules, the two firms had until Friday to submit revised offers. “Castlelake confirms that, following careful consideration, it does not intend to submit an (improved) offer for EasyJet,” the American group said in a statement on Thursday. EasyJet had said last month that Apollo’s informal offer, also worth £5.7 billion, secured a “better outcome” for shareholders compared with Castlelake’s proposal. Apollo, which manages assets worth more than $1 trillion globally, is not new to the aviation sector, having invested in Aeromexico, Sun Country Airlines and Atlas Air, and provided financing to Air France-KLM and Virgin Atlantic. As a foreign company, it cannot acquire full ownership of the airline outright, due to UK and EU rules requiring airlines to be majority-owned and controlled by nationals of the region. Stelios Haji-Ioannou’s position Sir Stelios Haji-Ioannou announced his decision to back Apollo’s takeover of EasyJet. His statement in full: “Following careful consideration of Apollo’s proposal, my family and I have decided to support the proposed acquisition, as announced by EasyJet’s board of directors. We will also remain shareholders in the private company that will result once EasyJet leaves the London Stock Exchange. “The story of the easy family of brands began in 1994, when, at the age of 27, I started EasyJet, the first of the easy family’s brands. In 2000, I listed EasyJet plc on the London Stock Exchange, to secure funding for the expansion of the company’s fleet, which has grown from 19 aircraft at the time to around 356 today. During the same period, I made the strategic decision to retain ownership of the EasyJet brand through my private company, easyGroup Ltd. Ownership of the easy family of brands has provided me with a steady stream of income over the past 26 years, which I am now able to use to fund the charitable work of the Stelios Philanthropic Foundation. “I welcome Apollo’s strategic intentions for EasyJet, which aim to create new growth prospects for the company. The fact that Apollo, one of the most powerful and experienced institutional investors in the world, has decided to support and invest in the growth of EasyJet, the leading member of the easy family of brands, is strong confirmation of the value of the easy brand and the strength of easyGroup Ltd’s business model. “My family and I intend to remain significant long-term shareholders in EasyJet, supporting the company’s next chapter.” Subscribe to our Newsletter Latest News LEGO unveils Greek taverna set in Restaurants of the World (photos) Nicosia clears 2,300 abandoned vehicles, with 4,000 more to go (video) Housing ‘social policy’ anomaly restored Akrotiri residents to protest Saturday over new British Bases antennas Cyprus passport climbs to 13th in 2026 Henley Index Heatwaves expose overcrowding crisis in Europe’s ageing prisons Saudi Arabia, Turkey and Pakistan to sign joint defence deal amid regional turmoil Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.