Canadian Government Official Approves Onex-WestJet deal
The minister of transport of Canada has given approval for the acquisition of WestJet, Canada’s second largest airline, by Onex, an investment firm. The carrier will become privately held once the deal is complete. The purchase is still subject to other conditions including other regulatory approvals, approval of the shareholders of WestJet and final approval by a court in Alberta on July 23. According to reports, the offer was reduced as a result of the grounding of Boeing 737 Max aircraft earlier this year. WestJet has three different aircraft types (150 all told) and flies to more than 100 destinations in North America, Central America, the Caribbean and Europe. It carries more than 22 million passengers a year on over 700 flights a day.