• Published

EasyJet has agreed to be taken over in a £5.7bn deal by US firm Apollo.

The deal was announced after rival suitor Castlelake said it was dropping out of the bid battle for the no-frills airline.

EasyJet is one of Europe's largest airlines. It employs more than 19,000 people, and flies around 1,200 routes across 35 European countries.

It was founded by Sir Stelios Haji-Ioannou in 1995 to offer cheap air fares to Europe from the UK.