Apollo Launches $7.7 Billion easyJet Bid

Apollo's offer came just days after Castlelake proposed $7.3 billion, highlighting the attractiveness of easyJet's brand and slots.

The bid could rescue easyJet's board from criticism over recent performance, but Apollo faces the challenge of improving profitability to match rivals like Ryanair.

The takeover battle underscores the consolidation wave in European aviation as the industry recovers from pandemic disruptions.

EasyJet shares surged on the news.