WestJet Airlines Ltd. announced a deal to buy Sunwing Airlines Inc., as competition in the Canadian travel market heats up.
Financial terms of the deal, which will see Sunwing’s current shareholders become equity holders in the WestJet Group, were not disclosed.
WestJet chief executive Alexis von Hoensbroech says the deal brings together two highly complementary businesses.
(Sponsored)
In a tough economy, investing in community is more important than ever
When finances are tight, it might seem counterintuitive to give back, but supporting our most vulnerable neighbours this holiday season can actually help businesses weather their own challenges. At United
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
Under the agreement, a new tour operating business unit will be created under the WestJet Group, to include both Sunwing Vacations and WestJet Vacations Inc. and will be led by Sunwing CEO Stephen Hunter.
Both airlines are privately held. Toronto-based Sunwing is controlled by the Hunter family — Germany’s TUI Group owns the other 49 per cent of the airline — and Calgary-based WestJest was purchased by Onex Corp. in 2019.
The deal, which is subject to regulatory approvals, is expected to close late this year.
