Easyjet goes under the American flag but promises that its prices will remain "affordable": the shareholders of the low-cost airline largely approve of its takeover by the Apollo investment fund

Easyjet shareholders approved on Wednesday, by an overwhelming majority, the takeover of the low-cost airline by the American investment fund Apollo, the boss of the British company ensuring that its prices would remain “affordable”. In total, 97% of voting shareholders voted in favor of this acquisition at 5.7 billion pounds sterling (around 6.8 billion euros), Easyjet underlined in a press release. The operation, which the two companies hope to finalize in early 2027, must still be approved by regulatory authorities.

“Making low-cost travel simple, affordable and accessible to as many people as possible will remain Easyjet's mission,” said the company's chief executive, Kenton Jarvis, at an airline industry event in London, Airlines 2026, after Wednesday's vote. “Our customers expect good value for money,” he added. Europe's second low-cost airline behind its Irish competitor Ryanair, Easyjet had already announced at the beginning of July an "agreement in principle" with Apollo, which had seen its main competitor for the takeover, the Castlelake investment fund, withdraw from the race.

Jet fuel prices soaring Also speaking at Airlines 2026, UK Transport Minister Heidi Alexander said “airlines are facing, arguably, the most challenging year since the Covid-19 pandemic”. The conflict in the Middle East has driven up the cost of jet fuel dramatically, hurting companies even though many had secured much of their supplies before the start of the U.S.-Iran war, when prices were much lower. Easyjet announced at the end of July a profit down 70% in the third quarter compared to the previous year, at 85 million pounds (nearly 100 million euros).

The airline will release its full annual results later this month. Easyjet's competitor, Ryanair, announced last week the launch of a cost reduction plan and an increase in fares next year to offset the impact of soaring airline fuel prices.

Machine-translated from French