EasyJet shareholders voted on 11 November 2026 to approve the easyJet takeover by Apollo-backed Eagle Bidco, backing a £5.7bn deal that will end the airline's life as a publicly listed company. The result moves the transaction a step closer to completion, though court sanction and further regulatory approvals are still required.
How the Vote Went
The result at the court meeting was decisive. The Irish Times reports that 97.07% of scheme shares voted were cast in favour, with Air Data News reporting that votes in favour totalled 287.2 million against 8.7 million opposed. A separate general meeting resolution passed with 96.67% of votes in favour, according to Airways Magazine. By headcount, the Irish Times confirms, 83.29% of voting shareholders supported the deal.
The vote was not straightforward in one respect. EasyJet suspended voting rights over approximately 233.9 million shares held by non-EU investors at the general meeting, Air Data News and Airways Magazine both report, because EU nationals held 35.07% of the airline's shares at the time of the meeting, according to the Irish Times. The suspension was necessary to protect the airline's EU operating licences, which require sufficient EU ownership.
The Price and What Shareholders Receive
The acquisition vehicle behind the offer is Eagle Bidco, an Apollo entity whose cash proposal stands at £7.15 for each easyJet share, according to Air Data News and Airways Magazine. Taken together, that pricing places the total value of easyJet's equity at roughly £5.7bn, a figure reported across all four sources.
Eligible investors have an alternative to the cash offer. Airways Magazine reports that those investors may instead receive unlisted shares subject to a three-year lockup period.
The £7.15 price represents an improvement on the opening bid in this process. Air Data News reports that rival private equity firm Castlelake had previously bid £6.90 per share before Apollo entered with a higher offer in July.
How the easyJet Takeover Deal Was Reached
EasyJet's board formally recommended the Apollo deal in August, with agreement reached on 6 August, Air Data News and Airways Magazine report. Air Data News reports that formal acquisition documents were distributed to shareholders in October ahead of the vote.
EasyJet's founder Sir Stelios Haji-Ioannou urged shareholders to back the Apollo bid, paddleyourownkanoo reports. Apollo has previous experience operating airlines: paddleyourownkanoo also reports that the firm previously operated US ultra-low-cost carrier Sun Country Airlines.
Apollo has set out its intentions for the business. The firm has spoken of "upgauging the fleet, enhancing the ancillary and loyalty offering, and scaling Holidays into a structurally differentiated earnings stream," according to paddleyourownkanoo.
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What Still Has to Happen
Yesterday's shareholder vote does not bring the process to a close. Court sanction and a range of further regulatory approvals must still be obtained before completion can occur, Air Data News and Airways Magazine confirm. EasyJet is targeting a point within Q1 2027 for the scheme to take effect, the Irish Times, Air Data News and Airways Magazine all report.
That timetable leaves roughly four months for the remaining legal and regulatory process to run its course.
The End of an Era on the London Stock Exchange
A successful closing would bring to an end easyJet's lengthy tenure as a listed company, with the airline having traded on the London Stock Exchange for over 25 years, the Irish Times reports. Having floated in 2000, the carrier has been a constant presence on the LSE throughout that period, expanding from its origins as a small Luton-based operation into one of the biggest short-haul airlines in Europe.
For passengers, the immediate practical consequences of the ownership change are unlikely to be felt before the transaction completes. Apollo's stated priorities point towards fleet growth and an expanded holidays business in the medium term.
The Bottom Line
The shareholder vote clears the most visible hurdle. With 97.07% support among scheme shares voted, opposition to the deal was minimal, and the margin leaves little room for doubt about where shareholders stand. The remaining steps, court approval and regulatory sign-off, are procedural in nature, though they carry their own timelines.
If easyJet does delist before the end of March 2027, it will mark a significant shift in the composition of the London Stock Exchange's aviation sector. The question now is whether Apollo can deliver on its stated ambitions for the business once the transaction is in private hands.
This article draws on reporting by irishtimes, paddleyourownkanoo, Air Data News and Airways Magazine.
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