Key facts
- Apollo is offering 715p in cash per easyJet share, valuing the airline at £5.7 billion.
- easyJet is consulting on cutting up to about 50 of its 2,300 head office roles in Luton.
- easyJet said the proposed head office reductions are not connected to Apollo or the takeover.
- The Haji-Ioannou family, which owns about 15% of easyJet, supports the takeover.
- Apollo has pledged no redundancies for 12 months after completion of the acquisition.
- Balpa said its principal concern is how the transaction affects employees beyond that 12-month period.
easyJet shareholders vote on November 11, 2026, on a £5.7 billion takeover by US private equity firm Apollo, with a court meeting and a general meeting both scheduled that day. Apollo is offering 715p in cash per share. The founding Haji-Ioannou family, which owns about 15% of the airline, supports the deal. If shareholders approve, a court sanction hearing follows on a date not yet announced, and completion is expected in the first quarter of 2027.
Ahead of the vote, easyJet confirmed it is consulting on proposals that could cut up to about 50 of its 2,300 head office roles in Luton, after The Times reported the plans. The airline said the reductions are not connected to Apollo or the acquisition. An easyJet spokesperson said: "These proposals affect a very small proportion of head office roles to ensure we are best set up to support the business' ambitious plans."
Apollo has pledged no redundancies for 12 months after completion. Balpa said its principal concern is the extent to which the transaction may affect employees beyond that period, adding that "important questions remain regarding the long-term implications of the transaction." Trade unions in the UK and Europe have raised concerns about potential redundancies and the debt burden the deal would place on easyJet's balance sheet, the Press Association reported.
Apollo won the contest after Castlelake, a US investment firm, withdrew in August. Castlelake had tabled a £5.5 billion, or 690p a share, offer. easyJet was founded in 1995 by Sir Stelios Haji-Ioannou.