Voice reading · ~1 minWelcome to the Notitur daily brief, your travel-industry recap. Today: easyJet swerves and picks Apollo over Castlelake. Just a few days ago it looked like Castlelake had the deal in the bag, but easyJet has made a sharp U-turn and accepted a proposal from Apollo Management worth £5.7 billion (€6.669 billion).. The London-Luton-based carrier announced on Friday that it prefers Apollo's offer, although the transaction is not final: the fund has until August 7 to submit a binding bid, as reported by Hosteltur.. What does this mean for the travel industry? It confirms the strong investor appetite for low-cost carriers with solid balance sheets. easyJet has become a hot target, and this bidding saga is far from over. That is today's recap. Come back tomorrow for more on travel, artificial intelligence and travel tech. See you tomorrow on Notitur.
Just a few days ago it looked like Castlelake had the deal in the bag, but easyJet has made a sharp U-turn and accepted a proposal from Apollo Management worth £5.7 billion (€6.669 billion).
The London-Luton-based carrier announced on Friday that it prefers Apollo's offer, although the transaction is not final: the fund has until August 7 to submit a binding bid, as reported by Hosteltur.
What does this mean for the travel industry? It confirms the strong investor appetite for low-cost carriers with solid balance sheets. easyJet has become a hot target, and this bidding saga is far from over.
Quick questions
How much is Apollo offering for easyJet?
Apollo Management has proposed £5.7 billion (€6.669 billion) for the airline.
Why did easyJet reject Castlelake?
The airline preferred Apollo's offer over Castlelake's, though no public details on the terms were given.
Is the easyJet acquisition final?
No. Apollo has until August 7 to present a firm binding offer.
What airline is easyJet?
It is a British low-cost carrier based at London-Luton Airport and one of the largest in Europe.
What does this deal mean for the travel sector?
It shows strong investment fund interest in profitable low-cost airlines, which could reignite consolidation in Europe.
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