EasyJet shareholders back £.5.7bil US takeover

EasyJet's shareholders have overwhelmingly approved a £5.7 billion takeover by US private equity firm Apollo, despite soaring fuel costs due to the Middle East conflict. The vote saw 97% of voting shareholders back the deal, which is set to be finalized in early 2027 and still requires regulatory approval. EasyJet CEO Kenton Jarvis emphasized that the company's commitment to affordable and accessible travel remains unchanged, even as its profit plummeted 70% in the third quarter of the year.

The airline's full-year results are due later this month. Transport Minister Heidi Alexander highlighted that airlines face the most challenging year since the pandemic, with the conflict driving up jet fuel prices and hurting carriers, even those who secured fuel before the war commenced.