The board of easyJet has indicated a preference for a £5.7 billion takeover bid from Apollo Global Management, superseding a previous agreement in principle with Castlelake.

easyJet 董事會表示，傾向接受 Apollo Global Management 提出的 57 億英鎊收購方案，取代先前與 Castlelake 達成的原則性協議。

The current acquisition process is characterized by a transition from a preliminary agreement with Castlelake to a superior proposal from Apollo. Apollo's offer of £7.15 per share represents a valuation of £5.7 billion, which the board has identified as a more favorable outcome for shareholders than Castlelake's £6.90 per share bid. This latter offer had been accepted in principle following five iterations of revised terms. Apollo's proposal includes a 'Stub Equity Alternative,' allowing shareholders to roll their holdings into the investment vehicle, thereby maintaining voting rights and avoiding mandatory divestment upon delisting.

目前的收購過程特徵在於從與 Castlelake 的初步協議轉向 Apollo 更優越的方案。Apollo 每股 7.15 英鎊的出價代表其估值為 57 億英鎊，董事會認為這對股東而言，比 Castlelake 每股 6.90 英鎊的出價更為有利。後者在經過五次條款修訂後，原先已獲原則性接受。Apollo 的方案包含一個「殘餘股權替代方案」，允許股東將其持股轉入投資工具，從而維持投票權並避免在除牌時被強制剝離。

Strategic alignment remains a critical component of the bidding process. Apollo has expressed an intention to maintain the existing corporate strategy, specifically the enhancement of the low-cost carrier model and fleet modernization. Furthermore, Apollo has signaled its intent to preserve the brand licensing agreement with founder Sir Stelios Haji-Ioannou. In contrast, Castlelake's strategic framework has been characterized as less defined. The financial capacity of the bidders differs significantly, with Apollo possessing greater scale in corporate acquisitions compared to Castlelake's primary expertise in aviation financing and leasing.

戰略一致性仍是競標過程的關鍵組成部分。Apollo 已表達維持現有公司戰略的意向，特別是強化低成本航空公司模式與機隊現代化。此外，Apollo 已示意將保留與創辦人 Sir Stelios Haji-Ioannou 的品牌授權協議。相比之下，Castlelake 的戰略框架被認為較不明確。競標者的財務能力差異顯著，Apollo 在企業收購方面的規模遠大於以航空金融和租賃為主專長的 Castlelake。

Regulatory compliance constitutes a primary obstacle to the finalization of any transaction. European Union mandates require that at least 50.1% of ownership and control reside within the region. To address this, Castlelake proposed a partnership with EU nationals Peter Bellew and Mark Breen. While both US firms believe a legal mechanism exists to satisfy these requirements, the feasibility of such structures remains subject to regulatory approval. These developments occur against a backdrop of financial volatility, where easyJet reported a 27% increase in first-half losses to £377 million, attributed to fuel price escalation resulting from the US-Iran conflict.

監管合規是完成任何交易的主要障礙。歐盟指令要求至少 50.1% 的所有權與控制權必須留在該地區。為此，Castlelake 提議與歐盟公民 Peter Bellew 及 Mark Breen 建立合作夥伴關係。雖然兩家美國公司均認為存在滿足這些要求的法律機制，但此類結構的可行性仍需等待監管部門批准。這些進展發生在金融波動的背景下，由於美伊衝突導致油價上漲，easyJet 報告上半年虧損增加 27% 至 3.77 億英鎊。

Apollo has until August 7 to submit a firm offer, while Castlelake's deadline is August 3, leaving the final ownership status of the carrier unresolved.

Apollo 必須在 8 月 7 日前提交正式方案，而 Castlelake 的截止日期為 8 月 3 日，這使得該航空公司的最終所有權狀態仍未確定。