Apollo becomes sole bidder for EasyJet after Castlelake withdraws takeover offer

Thursday 06 August 2026 - 15:30

By: Sahili Aya

Apollo becomes sole bidder for EasyJet after Castlelake withdraws takeover offer

Apollo has emerged as the only remaining bidder for EasyJet after U.S. investment firm Castlelake formally abandoned its pursuit of the British low-cost airline, clearing the way for Apollo to move ahead with its proposed acquisition.

The development marks a decisive step in the takeover process, following weeks of speculation over competing bids for one of Europe's largest budget carriers.

Castlelake exits the bidding process

Castlelake announced that it would not submit a formal offer for EasyJet after completing its assessment of the transaction. The investment firm thanked the airline's management for its cooperation during discussions but confirmed that it would not proceed with a binding proposal.

The withdrawal ends the prospect of a competitive bidding contest and significantly simplifies the path toward a change in ownership.

Apollo strengthens its position

Apollo now stands as the sole suitor after previously reaching an agreement in principle with EasyJet. The preliminary deal, announced in early July, valued the airline at approximately £5.7 billion.

Later on Thursday, Apollo confirmed that it would proceed with the acquisition, reinforcing its ambition to expand its presence in the aviation sector through one of Europe's most recognized low-cost carriers.

Strategic implications for the airline

The transaction, if completed, would represent one of the most significant deals in the European aviation industry this year. EasyJet has spent recent years navigating post-pandemic market changes while adapting to higher operating costs, evolving passenger demand and increased competition across the continent.

Private equity interest in major transport companies has intensified as investors seek opportunities in businesses with established brands, extensive route networks and long-term growth potential.

Focus shifts to regulatory and shareholder approval

With Castlelake no longer in contention, attention is expected to turn to the remaining stages of the acquisition process, including regulatory reviews and shareholder approval.

Should the deal receive the necessary clearances, Apollo would take control of one of Europe's leading budget airlines, potentially opening a new chapter in EasyJet's strategic development as competition continues to reshape the global aviation industry.