The takeover of easyJet by Apollo Global Management opens a new chapter for one of Europe's leading low-cost airlines. easyJet indeed accepted the offer on August 6th of around £5.7 billion (approximately €6.5 billion) proposed by the American fund Apollo, following the withdrawal of its competitor Castlelake.
The offer values easyJet shares at £7.15 and is expected to be finalised by the end of March 2027, subject to the necessary regulatory approvals.
For passengers, the question is less about who now owns the airline than understanding what this change could mean for fares, routes and the travel experience.
We should not a priori observe a radical change in strategy. easyJet will continue to follow its development plan, with the brand moreover being preserved. Apollo has notably displayed its support for the current strategy, whether for the modernisation of the fleet, the development of ancillary activities, loyalty schemes or easyJet Holidays. Apollo has also committed to complying with the rules in force in the European Union.
What are the consequences for the consumer?
An investment fund like Apollo naturally looks to improve the company's profitability. This could push easyJet to further optimise its revenue per passenger. But rather than raising its fares, the low-cost airline should continue developing ancillary revenue: baggage, seat selection, priority boarding, catering or holiday-related options.
Apollo has precisely identified the improvement of ancillary offers as one of easyJet's growth drivers. On the other hand, there is a risk of a reassessment of the carrier's network, in particular by cutting the least profitable routes or airport bases.
Apollo has also identified easyJet Holidays as a significant growth potential. For consumers, this could translate into more packages combining flights, hotels and other services.
The development of this activity could strengthen competition with the major package holiday operators and give easyJet a more significant presence across the entire customer journey, from flight booking to holiday booking.
Business travellers should therefore not expect to see easyJet completely transform overnight. Especially since Apollo is loudly asserting that it has no intention of radically transforming the airline.
