UK budget airline easyJet confirmed on the 6th that U.S. private equity firm Apollo has acquired the company for £5.7 billion (approximately 31.356 billion ringgit).
easyJet, which mainly operates European routes, stated in a release: “The boards of both parties are pleased to announce that an agreement has been reached on the terms and conditions of the proposed all-cash acquisition.”
easyJet indicated that the transaction is expected to be completed by the end of the first quarter next year.
The headquarters of easyJet will remain in Luton, a town known for its proximity to London’s airport.
Apollo manages over $1 trillion in assets globally and has invested in Aeromexico, Sun Country Airlines, and Atlas Air.
Apollo has also provided financing to Air France-KLM Group and Virgin Atlantic.