EasyJet agrees to £5.7 billion US takeover bid

Airline operates several routes to and from Ronaldsway

An airline that operates services between the Isle of Man and several key UK destinations has agreed in principle to a £5.7 billion takeover bid.

If the deal is ratified EasyJet will be owned by American firm, Apollo Global Management.

Meanwhile it's business as usual for now with flights, bookings and loyalty schemes unaffected while the potential take-over passes through the regulatory process.

While the deal with Apollo Global Management is not yet ratified, it inevitably raises questions about future routes and fare structures.

The airline had already been the subject of rival takeover bids by American investment firm, Castlelake - and had accepted the company's latest offer in principle, before the rival bid from Apollo came in.

Analysts say EasyJet had been a prime target for takeover given its large fleet of aircraft and prime slots at Gatwick and Paris Charles De Gaulle.

One regulatory hurdle Apollo must negotiate is an EU rule that the airline must be majority-owned by EU citizens.