Apollo's easyJet buyout faces union pushback ahead of first quarter 2027 close

easyJet-Apollo £5.7B Buyout Faces Union Concerns Before Q1 2027 Closure

Overview of the easyJet-Apollo Takeover and Union Response

Deal Timeline and Financial Details

Oct 15 (Reuters) - EasyJet is facing union opposition to its £5.7 billion ($7.54 billion) takeover by Apollo, but said it was on track to close the deal before the end of the first quarter of 2027.

Union Concerns and European Works Council Opposition

Key Issues Raised by Unions

In a scheme document published on Thursday, easyJet said multiple unions across Europe raised concerns over the post-takeover ownership structure, with the European Works Council opposing the deal.

Non-Binding Employee Commitments

The European Works Council's concerns included the deal offering employees only 12 months of non-binding commitments.

Regulatory and Ownership Structure Challenges

The document lands as the airline and Apollo work to convince aviation regulators that their ownership structure keeps easyJet majority owned and controlled by European interests.

The ownership structure is central hurdle to a deal that could set a precedent for private equity buyouts of the continent's tightly regulated carriers.

Next Steps: Shareholder and Court Approvals

EasyJet plans to hold court and shareholder meetings in the week starting November 9 to approve the deal, formally launching the court-sanctioned process that could take the budget carrier off the London stock market after more than 25 years.

Additional Information

($1 = 0.7557 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Sonia Cheema and Subhranshu Sahu)