Geneva’s business community asks Apollo not to scale back easyJet in Geneva

After the agreed acquisition of the low-cost airline easyJet by the US investment fund Apollo, Geneva’s business community is calling for the company’s presence in western Switzerland to remain strong and lasting. It is a priority in particular that easyJet maintains its intensive commitment at Geneva Airport.

The request comes from the interest group Aeria+, the western Swiss economic association for high-performance airport infrastructure. According to its statement, easyJet plays a central role in the region’s international connections and therefore in tourism, the economy and business. What counts most are the flights to major economic centres such as London, Paris or Amsterdam. A strong presence in Geneva is, for the association, a strategic factor in western Switzerland’s economic appeal and international standing.

The figures explain the insistence. EasyJet is by far the leading airline at Geneva Airport: according to the operator Genève Aéroport it generated 46% of passenger traffic last year, equal to 8 million travellers out of almost 17.9 million in total. Swiss, in second place, reached a share of 12.4%. In fleet terms, according to the industry body Aerosuisse, of the 29 aircraft stationed in Switzerland 17 are in Geneva and 12 in Basel.

Apollo has so far issued no concrete statement on the future of easyJet’s presence in Geneva. In July the investor confirmed that it supports the airline’s current strategy, intending to accelerate its operational and commercial plans. These include fleet modernisation and greater use of larger aircraft, expansion of ancillary services and loyalty programmes, and further growth of the tour operator easyJet Holidays. Retention of key staff is also planned.

The acquisition agreement was reached on 6 August: the valuation is 5.7 billion pounds, equal to 6.2 billion francs. EasyJet’s board of directors recommends that shareholders accept the offer. Rival US investor Castlelake had previously withdrawn from the race. It remains to be seen whether an owner aiming to speed up returns will maintain the same capacity at an airport where the airline already holds almost half the traffic.