One of the UK’s most popular discount airlines has been sold off to a US private equity firm in a multi-billion pound deal.
EasyJet has confirmed it has agreed to be acquired in a £5.7billion deal by US firm Apollo.
The deal’s announcement came after rival bidder Castlelake revealed it was dropping out of the bidding war for the budget airline.
As one of Europe’s largest airlines, EasyJet flies to around 1,2000 routes across dozens of European countries and employs over 19,000 people.
EasyJet has been purchased by a US private equity company
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GETTYAs part of the acquisition, the US company , which also owns Wagamama-owner The Restaurant Group, pays shareholders 715p per share for the business.
On the deal, EasyJet chief executive Kenton Jarvis said: “We welcome Apollo’s commitment to our business and our people, and believe that its experience in the aviation sector makes it a strong partner for EasyJet.”
Alex van Hoek, partner and European private equity lead at Apollo, added: “EasyJet is a leader in European aviation, having built a differentiated market position through its compelling customer proposition, expansive network and strong brand.”
Furthermore, Apollo reiterated that it was “highly supportive” of EasyJet’s existing strategy, citing that there was “a significant opportunity to accelerate the operational and commercial ambitions” for the group.
EasyJet and Ryanair are continuing to send flights to Bordeaux, despite the wildfires raging | GETTY
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