EasyJet agrees to £5.7bn takeover by US firm

7bn deal by US firm Apollo after a rival bidder dropped out.

Apollo said it wants to help the airline grow and that it does not intend to cut any jobs in the first 12 months after the takeover has been completed, implying that passengers can expect largely the same service.

In early July, EasyJet and Castlelake said they had agreed a deal in principle, but then Apollo - which owns Wagamama parent The Restaurant Group - swooped in with a higher bid.