EasyJet (LSE:EZJ) shares rose on Thursday after the airline confirmed that its proposed £5.7 billion acquisition by Apollo Global Management (LSE:JUP) remains on schedule for completion before the end of the first quarter of 2027.
The budget airline’s shares traded at 684.6p during the session, approaching their 52-week high, following the publication of a scheme document setting out the terms and timetable of the recommended cash offer.
The document outlines the next stages of the proposed acquisition, including shareholder approval, court proceedings and regulatory requirements that must be satisfied before the transaction can complete.
EasyJet has scheduled court and shareholder meetings for the week beginning 9 November 2026, with voting expected to take place on 11 November.
The meetings will allow shareholders to consider the proposed transaction and form part of the court-sanctioned scheme of arrangement through which the acquisition is intended to proceed.
If completed, the deal would result in EasyJet leaving the London Stock Exchange after more than 25 years as a publicly traded company.
European Airline Ownership Rules Remain a Key Consideration
One of the principal outstanding issues concerns compliance with European aviation ownership and control requirements.
EasyJet and Apollo are working to demonstrate to aviation regulators that the proposed ownership arrangements would preserve the airline’s majority European ownership and effective control.
European aviation regulations impose ownership and control conditions on airlines operating under relevant European licences, making the proposed structure an important element of the approval process.
The companies must satisfy regulators that EasyJet would continue to meet the applicable requirements following completion of the acquisition.
The proposed transaction therefore remains subject to regulatory considerations in addition to the shareholder and court approvals required under the scheme.
European Employee Representatives Raise Concerns
The scheme document also identifies objections to the proposed acquisition from employee representatives across Europe.
According to the document, several unions have expressed concerns about the transaction, while EasyJet’s European Works Council has opposed the proposed takeover.
The Works Council cited concerns over the employment commitments offered in connection with the acquisition, which it said covered a period of 12 months and were not legally binding.
The objections introduce an additional issue for the companies as they progress the transaction, although the supplied update does not indicate that they have altered the expected completion timetable.
Completion Targeted for First Quarter of 2027
EasyJet continues to expect the acquisition to complete before the end of the first quarter of 2027, subject to the necessary approvals and satisfaction of the transaction conditions.
The immediate next stage is the shareholder vote scheduled for 11 November, followed by the remaining court and regulatory processes.
The publication of the scheme document provides shareholders with further information ahead of the meetings and establishes the timetable for consideration of Apollo’s recommended offer.
Completion would transfer EasyJet into private ownership and end its listing on the London Stock Exchange.
However, the transaction has not yet been completed, and its final timetable remains dependent on the required approvals, including the resolution of European aviation ownership and control requirements.
About EasyJet
EasyJet (LSE:EZJ) is a UK-based low-cost airline operating passenger services across Europe and other destinations within its route network.
The airline provides scheduled air travel services through a network of airports, serving leisure and business passengers.
Its operations are subject to aviation safety, licensing and regulatory requirements, including applicable airline ownership and control rules.
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