finance
EasyJet Board Backs Apollo Takeover Bid Over Rival Castlelake
Photo: MarcelX42 / CC BY-SA 4.0 — via Wikimedia Commons (CC BY-SA 4.0) · source
The board of directors at European budget carrier EasyJet officially backed a takeover proposal from private equity firm Apollo this Friday. Apollo recently raised its offer to beat out rival investment group Castlelake in a competitive bidding war for the airline. For aspiring and current airline pilots, major financial shifts at large carriers often signal upcoming changes to fleet strategies, hiring pace, and union contract negotiations.