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This week Onex announced it wil acquire Westjet for close to $5 billion after shareholder and regulation approval.
“Since our first flight in 1996, WestJet has been singularly focused on providing better options for the Canadian travelling public and this transaction retains that commitment,” said Clive Beddoe, WestJet’s Founder and Chairman. “I am particularly pleased that WestJet will remain headquartered in Calgary and will continue to build on the success that our 14,000 WestJetters have created. Onex’ aerospace experience, history of positive employee relations and long-term orientation makes it an ideal partner for WestJetters, and I am excited about our future.”
The investment will be led by Onex Partners, Onex’ private equity platform focused on larger investment opportunities. It is unclear what changes will take place post acquisition but history shows they will most likely keep Westjet as a separate entity.