easyJet axes up to 50 head office jobs ahead of Apollo takeover

easyJet is consulting on plans to cut up to about 50 head office roles from its 2,300-strong team in Luton, ahead of Wednesday's shareholder vote on the £5.7 billion takeover by the US private equity firm Apollo. The airline confirmed the proposals after they were reported in The Times.

The cuts are understood not to be linked to Apollo or the takeover. A spokesperson said the proposals affect "a very small proportion of head office roles" and that, as a low-cost airline, easyJet always operates efficiently, "so we can keep fares low for our customers and invest in future growth opportunities." Apollo agreed the 715p-a-share deal in July, after seeing off a £5.5 billion, 690p-a-share proposal from US investment firm Castlelake, which walked away in August. Apollo also owns the Restaurant Group, the owner of Wagamama.

Apollo has vowed not to cut any jobs for a year after completing the takeover, which is expected in the first quarter of 2027 if shareholders approve. The British Airline Pilots Association says "important questions remain regarding the long-term implications of the transaction," with its principal concern the effect on employees "beyond the 12-month period covered by the statements of intention." Unions in Britain and Europe have also raised the debts the buyout will load onto the airline's balance sheet. A consultation that trims the head office before the buyer arrives means the year of protection begins from a base the seller has already slimmed.

The founding family is on side: Sir Stelios Haji-Ioannou, who started easyJet in 1995 as a low-cost alternative to British Airways, and his family own about 15 percent of the shares and back the deal. The sector is cutting the same layer from both ends: KLM this month confirmed 5,000 job losses, nearly 15 percent of its staff, citing fuel prices rather than buyout arithmetic. Whether the trigger is a fuel bill or a private equity spreadsheet, the head office is now the first line item.

Apollo's no-cuts pledge begins at completion, expected in the first quarter of 2027. The Luton consultation did not wait for the vote.