EasyJet agrees $7.7 billion takeover by Apollo as Castlelake walks away

Apollo Global has agreed to buy easyJet in a deal that values the European budget airline at about £5.70 billion ($7.7 billion), the companies said on Thursday, as rival suitor Castlelake abandoned its pursuit.

The deal ends months of uncertainty surrounding one of Europe’s biggest low-cost airlines as the industry grapples with rising costs from the Iran war....