easyJet shareholders approved Apollo's 715p-a-share, £5.7bn takeover on 11 November. Court sanction and aviation regulators' approvals are still needed.
Cover image: An easyJet Airbus A320neo on approach (file photo) — photo by Anna Zvereva from Tallinn, Estonia, CC BY-SA 2.0, via Wikimedia Commons.
The easyJet Apollo takeover vote has gone the bidder's way. At a court meeting on Wednesday 11 November 2026, 97.07 per cent of the scheme shares voted backed the 715p-a-share cash offer from Eagle Bidco, a company indirectly owned by funds managed by Apollo, according to easyJet's results announcement. A general meeting the same day passed the resolution needed to implement the deal with 96.67 per cent of votes cast.
The offer values the airline's share capital at about £5.7bn. The scheme still needs the remaining regulatory conditions to be met and the sanction of the High Court, and easyJet expects it to take effect before the end of March 2027. One of the main open questions is whether a US-owned easyJet can satisfy European rules on who owns and controls an airline.
What was the result of the easyJet Apollo takeover vote?
The announcement gives two measures for the court meeting. By shares, 287,233,404 were voted for and 8,656,206 against. By head count, 289 scheme shareholders voted for and 58 against, which is 83.29 per cent in favour.
Neither figure is a share of the whole company. The shares voted at the court meeting came to 39.03 per cent of the capital eligible to vote, so the votes in favour represent 37.89 per cent of it.
| Measure | Court meeting | General meeting |
|---|---|---|
| Votes for | 287,233,404 (97.07%) | 247,835,560 (96.67%) |
| Votes against | 8,656,206 (2.93%) | 8,528,763 (3.33%) |
| Total votes | 295,889,610 | 256,364,323 |
| Shareholders voting for | 289 (83.29%) | Not disclosed |
| Votes as share of eligible capital | 39.03% | Not disclosed |
| Shares with voting rights suspended | Not disclosed | 233,921,894 |
Source: easyJet plc, Results of Court Meeting and General Meeting, 11 November 2026.
Why were voting rights on 233.9 million easyJet shares suspended?
easyJet said EU persons owned 35.07 per cent of its shares at the time of the general meeting. To keep the company inside European ownership and control requirements, its directors suspended voting rights on 233,921,894 shares held by non-EU persons, as it has at other general meetings.
That is about 30.9 per cent of the 758,010,025 shares in issue, on our calculation.
The rules require more than 50 per cent qualifying ownership as well as effective control, Airways reported, citing Irish Aviation Authority guidance. The new structure will need to show regulators that easyJet's European operations still qualify under an American owner. The nationality question does not arise in the same way in deals such as Lufthansa's 44.9 per cent stake in TAP, where the buyer is an EU group.
What approvals does Apollo still need?
The votes satisfied two conditions of the scheme. The sanction hearing has no date yet; easyJet's indicative timetable puts it before the end of the first quarter of 2027. The long-stop date is 6 August 2027.
Chief executive Kenton Jarvis told the Airlines 2026 conference on 11 November that competition filings were coming back "approved, approved, approved", because "Apollo doesn't own any airlines in Europe", Aerospace Global News reported. easyJet holds air operator certificates in the UK, Austria and Switzerland and needs the approval of each country's civil aviation authority, the same report said.
What changes for easyJet's strategy, staff and trade partners?
Little, on the stated plan. Apollo intends to keep the brand, the headquarters and the existing operating licences, Travel Weekly reported, and to back fleet modernisation, ancillary and loyalty products and easyJet holidays. A new loyalty programme is due next year, Aerospace Global News reported, a familiar lever in how low-cost airlines make money.
easyJet's European Works Council has warned the deal would weaken the airline's long-term resilience, according to Aerospace Global News.
Apollo won a contest with Castlelake, which had proposed 690p a share before Apollo bid higher in July, Air Data News reported; the 715p offer is about 3.6 per cent above that. Shareholders can elect unlisted shares instead of cash, which Airways said carry a three-year lock-up. Founder Sir Stelios Haji-Ioannou and his family back the deal and plan to keep an interest, according to Travel Weekly.
easyJet's pre-tax profit fell 70 per cent to £85m in the three months to the end of June as jet fuel prices surged, AFP reported, and its full-year results are due later in November.
Frequently asked questions
Is the easyJet takeover by Apollo complete?
No. Shareholders approved the scheme of arrangement on 11 November 2026, which satisfied two conditions. The deal still needs the remaining regulatory conditions to be met and the High Court to sanction the scheme. easyJet expects it to become effective before the end of March 2027, and the long-stop date is 6 August 2027.
How much is Apollo paying for easyJet?
Eagle Bidco, owned by Apollo-managed funds, is offering 715p in cash for each easyJet share, which values the airline's issued and to-be-issued share capital at about £5.7bn. That is an equity value, excluding debt. Eligible shareholders can choose unlisted shares in the new holding structure instead of cash.
What was the result of the easyJet court meeting?
At the court meeting, 287,233,404 scheme shares were voted for the deal and 8,656,206 against, a 97.07 per cent majority of the shares voted. By head count, 289 holders voted for and 58 against. The shares voted represented 39.03 per cent of the share capital eligible to vote.
Will easyJet flights, bookings or the brand change after the takeover?
Nothing changes for passengers or agents now, because the airline remains listed and independently owned until the scheme takes effect. Apollo has said it intends to keep the easyJet brand, the headquarters and the existing operating licences, according to Travel Weekly. Chief executive Kenton Jarvis said the low-cost strategy stays.
Sources
- easyJet plc (via Investegate), Results of Court Meeting and General Meeting, 11 November 2026
- Travel Weekly, EasyJet shareholders approve £5.7bn Apollo takeover
- Airways, easyJet Shareholders Approve £5.7bn Apollo Takeover
- Air Data News, easyJet shareholders approve Apollo's £5.7 billion takeover
- Aerospace Global News, £5.7B easyJet buyout gets shareholder greenlight
- AFP via Free Malaysia Today, EasyJet shareholders back £5.7bil US takeover
