EasyJet shareholders back £.5.7bil US takeover

EasyJet’s shareholders have approved a £5.7 billion takeover by US private equity firm Apollo, despite soaring fuel costs due to the Middle East conflict. A massive 97% of voting shareholders backed the deal, which aims to finalize in early 2027 after regulator approval. EasyJet CEO Kenton Jarvis emphasized that the company's commitment to affordable travel remains unwavering, as the airline's customers value good value and accessibility.

Apollo had been competing with Castlelake for the airline's ownership, with EasyJet facing a challenging year amid the war-induced surge in jet fuel prices. Transport Minister Heidi Alexander echoed the concerns, stating that the industry is confronting the toughest period since the pandemic, with the conflict driving up fuel costs and threatening airlines' financial stability.