Apollo Global Management Agrees to Buy EasyJet for About $7.7 Billion as Castlelake Withdraws

Apollo Global Management has agreed to acquire British low-cost airline EasyJet for approximately $7.7 billion, after U. S. private equity firm Castlelake withdrew its competing bid. EasyJet shares rose about 3.1% in London afternoon trading on Thursday, as Castlelake announced it would not make an offer, clearing the way for Apollo's acquisition.

Apollo had submitted its bid last month, while EasyJet had previously agreed in principle to Castlelake's $7.3 billion offer, which Castlelake later withdrew. Castlelake's bid had followed an earlier $6.64 billion proposal that was rejected by EasyJet in June 2026. Private equity interest has recently pushed EasyJet's share price higher, with the stock closing nearly 50% up on Wednesday. EasyJet, founded in 1995, holds valuable takeoff and landing slots at major European airports including London Gatwick, Paris, and Geneva. Castlelake is a major lender to airlines, leasing aircraft to about 200 carriers.