What Happened
Apollo Enters Fray With Higher Offer For Low-Cost Carrier
A second private equity firm, Apollo, has entered the bidding war for EasyJet with a higher offer of £7.15 per share, valuing the airline at £5.7 billion. The offer comes with assurances that the airline won’t be broken up, at least for now. EasyJet has been expanding its maintenance capacity, including plans to in-source more heavy maintenance, which could be an attractive asset for a potential buyer. The development was first reported by Aviation Week.