EasyJet Board Recommends Apollo's £5.7 Billion Takeover Offer Over Castlelake Bid

EasyJet's directors have agreed in principle to a £5.7 billion takeover bid tabled by US private equity giant Apollo Global Management. The airline confirmed on Tuesday that this new proposition from Apollo has been deemed superior to a previous, unpublicised offer from Castlelake, another investment firm.

This development signifies a potential shift in ownership for the UK-based budget carrier. Apollo Global Management's interest highlights the ongoing consolidation and strategic manoeuvres within the European aviation sector, where private equity firms are increasingly seeking opportunities to acquire established brands.

The announcement follows a period of speculation regarding EasyJet's future, as the industry navigates a complex economic landscape. Further details regarding the terms of Apollo's proposed acquisition are expected to emerge as discussions progress.