Apollo Global Management Acquires EasyJet for 5.7 Billion Pounds

Apollo Global Management has signed an agreement to acquire low-cost European airline EasyJet for 5.7 billion pounds—approximately 7.7 billion dollars—following months of competing bids. According to CNBC, Apollo will pay 715 pence per share in cash; rival bidder Castlelake LP has withdrawn from the competition. The final deadline for bids was August 7.

The deal is expected to reshape competitive dynamics in Europe's low-cost aviation market. EasyJet had been at the center of merger speculation over the past two years as it struggled to maintain profitability against Ryanair's dominant position.

The change in ownership of EasyJet, one of the carriers operating the most charter and low-cost flights from Turkey to the United Kingdom, could indirectly affect ticket prices on Istanbul-London and Izmir-Manchester routes, particularly during peak summer season.