Now we begin to see :
Apollo are to load £3 billionof of debt onto EasyJet taking them from being£434 million cash positive into massive debt and creates huge change in its financial situation.
This will likely force EasyJet into choices of various action from cost cutting in all its forms, staff redundancy, revised contracts etc or splitting out and selling off the various parts of the group UK/-EU/Swiss divisions for example. Additionally Easy have a large forward order book with Airbus which is highly attractive and potentially these aircraft could be leased out elsewhere. Coincidentally or not Apollo have a portfolio of leased out aircraft.
Come what may if the deal completes EasyJet seem certain to be a very different business in future.