EasyJet agrees to £5.7bn takeover by US firm
Summary
EasyJet, a major European low-cost airline, has agreed to be bought by a US company called Apollo in a deal worth £5.7 billion. Another US company, Castlelake, had also tried to buy EasyJet but decided to stop competing.Key Facts
- EasyJet is one of the largest airlines in Europe.
- It employs over 19,000 people.
- The airline flies about 1,200 routes across 35 countries in Europe.
- EasyJet was started in 1995 by Sir Stelios Haji-Ioannou.
- The airline focuses on offering cheap flights from the UK to other parts of Europe.
- Apollo, a US firm, will take over EasyJet for £5.7 billion.
- Castlelake, another US company, withdrew from the bidding process.
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