Marc Rowan Buys EasyJet Amid Company's Departure From Israel
Translated & summarized from Ice by baba
Billionaire Marc Rowan's investment firm Apollo has acquired the British airline EasyJet for $7.5 billion. EasyJet had previously suspended all flights to Israel in April 2024 due to security concerns and has stated it will not return until the situation stabilizes. While the acquisition documents do not mention a return to Israel, future decisions on flights are expected to be driven by economic factors rather than philanthropic ones.
The story in 5 lines · by baba
- Marc Rowan's Apollo acquired EasyJet for $7.5 billion, following the airline's exit from Israel.
- EasyJet halted all flights to Israel in April 2024 due to security concerns.
- The airline stated it will not resume flights to Israel until the security situation stabilizes.
- Rowan has significant philanthropic ties and leadership roles within the Jewish community and pro-Israel advocacy.
- Future EasyJet flights to Israel are expected to depend on economic viability and regional stability.
British low-cost airline EasyJet has been acquired by investment firm Apollo, led by Jewish-American businessman Marc Rowan, for approximately $7.5 billion. The deal follows a period of financial challenges for the airline, including rising fuel costs and a significant drop in profits. EasyJet ceased all operations in Israel in April 2024, citing security concerns following the Iranian attack and has not resumed flights, stating it will not return until the security situation stabilizes. This decision has led to speculation about whether the change in ownership will impact the airline's future in Israel.
Marc Rowan, a billionaire and co-founder of Apollo Global Management, has significant ties to Israel, including extensive philanthropic investments and leadership roles in Jewish community organizations. He serves as vice chairman of the "Derech" school network and chairman of the Youth Renewal Fund, focusing on education in Israel's periphery. Rowan was also a major donor to AIPAC and a prominent voice against antisemitism, notably leading a "donor revolt" against the University of Pennsylvania's administration over its response to anti-Israel sentiment.
The official acquisition documents do not directly address EasyJet's return to Israel. Any future decisions regarding routes to Israel are expected to be based on economic viability, regional stability, and crew agreements, rather than the new owner's philanthropic or ideological considerations. Apollo's financial backing, however, provides EasyJet with the stability to plan for the long term.
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