BUSINESS NEWS


EasyJet’s potential new owners could attempt to take the carrier upmarket


EasyJet takeover hinges on shareholder go-ahead


ANALYSIS:Apollo bid must still meet EU ownership rules. Ian Taylor reports


Confirmation that the easyJet board has accepted a £5.7 billion takeover bid by US investment fund Apollo appears to settle debate about the airline’s future ownership. Funds operated by Apollo Global


Management will de-list the carrier from the London Stock Exchange, it is hoped by the first quarter of next year. However, it may not be that simple.


Apollo and easyJet must comply with EU rules on the ownership and control of airlines which require a carrier be majority-owned and run by EU nationals. Since Apollo


48 13 AUGUST 2026


is based in New York it may own a maximum 49.9% of easyJet. The other 50.1% must be owned


in Europe, and Europeans must have a “decisive influence” on the running of the airline, according to EU rules. Apollo has the support of easyJet


founder Stelios Haji-Ioannou, who personally retains a 3.9% stake in the airline, and his family who collectively hold 15.3%. The US fund, which manages assets


worth more than $1 trillion, can count on the easyJet directors’ shares but they collectively hold a mere 0.06%.


Apollo proposes an EU trust will hold a further 5% of the carrier as part of a ‘management incentivisation plan’. That would take the EU portion


of Apollo’s takeover structure to 21% – leaving it requiring a further 29% be held by EU nationals. The bid documents suggest these will be existing shareholders who roll over stakes in the publicly listed airline into the privately owned one. But that requires they accept “an


Continued on page 46 travelweekly.co.uk


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