City advisers set to land a £335m fees bonanza in easyJet sale to US private equity

City advisers are set for a £334.5million bonanza when easyJet is sold.

The budget airline is being snapped up by Apollo Global Management in a £5.7billion deal, and will leave the London stock market.

Bankers, lawyers and public relations advisers are among those set to profit, according to takeover documents revealed as pilots sounded the alarm after their jobs were only guaranteed as safe for a year after takeover.

If approved by investors on November 9, easyJet will be the latest British firm to fall into US ownership. 

The sale has been backed by airline founder Sir Stelios Haji-Ioannou, whose family owns 15.3 per cent of it.

Apollo will pay £190.6million for financing arrangements and £22.5million to brokers and advisers. 

Lawyers are set for £39.2million, and its PR teams £3million, with additional advisers on tax to get £25.1million.

On easyJet’s side, bankers will share £32millin, lawyers are due £17.9million and PR gurus £2.3million. 

Other professional services and expenses will cost £2million.

News of the bonanza came as Easyjet pilots, 4,000 of whom are represented by the British Airline Pilots’ Association (Balpa), used the 320-page court document to express their concerns over future job losses.

They said staff ‘require greater clarity regarding future workforce plans, pensions, operational strategy, productivity initiatives and the arrangements through which employees will be informed, consulted and engaged following completion of the transaction.’