The completion of Onex Corp.’s C$5-billion purchase of WestJet marks the largest private equity deal in aviation history and is cause for “quiet relief and satisfaction,” WestJet CEO Ed Sims said Wednesday, following the announcement of the deal’s closing.
WestJet Chief Executive Ed Sims said on BNN that the deal will allow the company to execute on its long-term growth strategy without the constraints of quarterly scrutiny.
A spokesman for Delta Air Lines said the proposed transaction does not impact plans to implement a U.S-Canada trans-border joint venture with WestJet.
WestJet’s new owner wants the airline to build a stronger presence in Eastern Canada with increased frequency on Toronto, Montreal and Ottawa routes, according to CEO Ed Sims.
Read original article