Apollo Global Management submits a £5.7 billion cash offer for EasyJet, surpassing a prior bid from U.S. investor Castlelake.
Apollo Global Management has tabled a £5.7 billion all-cash bid for EasyJet, positioning itself as the frontrunner in the takeover battle. The offer exceeds an earlier proposal from U.S. investor Castlelake, which had already prompted EasyJet to consider strategic alternatives.
EasyJet’s board had previously engaged with Castlelake, but Apollo’s bid represents a significant premium and underscores growing investor confidence in European aviation recovery. The sector has faced turbulence from fuel costs and post-pandemic demand fluctuations, though recent earnings have shown signs of stabilization.
No immediate market reaction was disclosed, but the bid highlights renewed appetite for airline assets amid expectations of sustained travel demand.