The battle to take over easyJet is entering its final stage after the British low-cost carrier extended Castlelake’s deadline for submitting a final offer. Both interested investors, Castlelake and Apollo Global Management, now have until 17:00 on Friday, August 7, 2026, to announce a firm intention to make an offer or confirm that they are withdrawing from the process.

Castlelake had initially been required to make its decision by Monday, August 3, but easyJet’s board requested that its deadline be aligned with the one previously set for Apollo. The request was approved by the UK Panel on Takeovers and Mergers, according to AeroTime and Reuters.

By extending the deadline, easyJet has effectively ensured that both potential offers can be considered at the same time. This reduces the possibility of either bidder gaining an advantage because of an earlier deadline, while giving Castlelake several additional days to potentially improve its proposal.

Apollo is currently in the stronger position after easyJet’s board reached an agreement in principle with the investment firm on July 10 over a possible takeover valued at £5.7 billion, or approximately $7.6 billion. Apollo’s proposal would give shareholders £7.15 per easyJet share, compared with the £6.90 per share previously offered by Castlelake. After receiving the higher proposal, easyJet’s board withdrew its earlier support for Castlelake’s bid and indicated that it was minded to recommend Apollo’s offer to shareholders.

According to AeroTime, Castlelake’s offer, announced in early July, valued easyJet at approximately £5.2 billion, or $6.9 billion. The difference between the two proposals amounts to 25 pence per share, meaning Castlelake would have to improve its existing terms to regain the leading position.

Aligning the deadlines could further encourage both investment firms to submit their strongest possible terms by Friday. easyJet would then be able to compare the final proposals directly, including the price offered, financing arrangements, regulatory feasibility and plans for the airline’s future development.

Any potential takeover would also have to comply with European rules governing the ownership and control of airlines. As Apollo and Castlelake are US-based firms, the transaction structure would have to ensure that easyJet continues to meet the requirements necessary to retain its European operating rights. Both bidders have previously said they were working with regulators to establish an appropriate ownership structure.

Despite the approaching deadline, easyJet has warned that there is still no certainty that either interested party will submit a binding offer. The airline has advised shareholders to take no action at this stage.

The announcement extending the deadline was made without the consent of Apollo or Castlelake, AeroTime reported. A final outcome is now expected on August 7, unless easyJet requests another extension, which would again require approval from the UK takeover regulator.