EasyJet shareholders have approved the airline’s £5.7bn takeover by Apollo Global Management, clearing a major hurdle in one of the largest private equity buyouts of a European airline, according to Reuters.

The transaction reportedly received support from 97.07% of scheme shares voted, with 83.29% of voting shareholders backing the proposal. EasyJet expects the acquisition to complete before the end of Q1 2027, ending more than 25 years of trading on the London Stock Exchange.

However, the deal faces regulatory challenges in the European Union, where airline ownership rules require majority EU ownership. EasyJet said EU persons held 35.07% of its shares at the time of the vote, while the airline has suspended voting rights for certain non-EU investors to comply with existing regulations.

The acquisition has also faced opposition from employee unions, which have raised concerns about its potential impact on the airline’s financial resilience. The transaction follows a series of take-private deals involving London-listed companies, as US private equity firms continue to capitalise on valuation discounts in UK equity markets.