Sign up for free daily email updates from the aviation industry’s top news source. The takeover saga went on for months, with Air Canada fighting it every step of the way. We reserve the right to close comments at any time. In total, Onex has US$31 billion of assets under management, including US$6.6 billion of shareholder capital. Required fields are marked *, The Alouettes to fly on the wings of Nolinor Aviation, Boeing amps up renewable electricity to power operations, TRAXXALL ranks 32nd on Canadian Business 2020 Growth List, Skyservice Business Aviation announces leadership transition, TC approves BVLOS commercial drone operations with Iris Automation’s Casia Safety technology, All Nippon Airways signs 5-year De Havilland Component Solutions agreement. Onex Corp has closed its acquisition of Calgary-based WestJet Airlines. Your existing password has not been changed. With WestJet’s debt included, the deal is the biggest private-equity takeover of an airline in history, according to data provider Refinitiv. Mr. Popatia, who leads Onex’s aerospace investments, said he first contacted WestJet in March. Onex Corp. announced Wednesday it has officially taken over the Calgary-based company for $5 billion including assumed debt. WestJet Airlines Ltd. shareholders won't be receiving a quarterly dividend this month after Onex Corp. announced the completion of its acquisition of the Calgary-based airline. The Calgary-based airline says the minister determined the deal doesn’t raise public-interest issues for national transportation. Onex agrees to pay $2.6 billion in cash for Canadian carrier. In the past six years, WestJet has created both regional and budget airlines — WestJet Encore and Swoop — and set its sights on long-haul routes with an order for 10 Boeing 787 jetliners set for delivery before 2022, receiving the first one earlier this year. Comments are welcome while open. Garneau’s approval is one of the conditions for the deal to close. Here’s the new CEO’s plan, Unchecking box will stop auto data updates, Due to technical reasons, we have temporarily removed commenting from our articles. In our view, a private equity owner of an airline is likely to remain rational with respect to its approach to yields and profitability vs. market share,” he said in a note to clients. Analyst Chris Murray of AltaCorp Capital says the transportation regulator's conditions were "not unexpected but should be manageable.". We didn't recognize that password reset code. Onex Corp. has signed a friendly deal to buy WestJet Airlines Ltd. in an all-cash transaction of $3.5 billion.
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