Onex Corporation Buys WestJet

WestJet’s C-E-O says there are no job losses planned as a direct consequence of the purchase of the airline by private equity firm Onex.

Ed Sims will remain in his chief executive role after Onex signed a friendly deal to buy Westjet in an all-cash transaction of 3.5-billion dollars.

Under the purchase agreement, WestJet will operate as a privately held company after spending two decades on the Toronto Stock Exchange.

Tawfiq Popatia, a managing director at Toronto-based Onex, expressed confidence in the airline’s trajectory, which has seen it evolve from a low-cost regional carrier to a full-service international airline.

Popatia added that Onex will continue the current employee profit-sharing program that sees a portion of profits distributed twice a year to all 14-thousand WestJet employees, on top of an annual bonus.

Files from Canadian Press


Image Westjet

Posted in All Stories, Annoucer Blogs, Dave Creelman, Lunch Time Trivia Tagged with: , , , ,

Jewel 92 @iHeart Radio

+ Follow Us


+ Upcoming Events

  1. The New Trademarks at Know Preston Presbyterian Church

    May 26 @ 6:30 pm
  2. Seniors’ Month Kick-Off

    May 29 @ 10:00 am - 2:00 pm
  3. Smorgasbord

    May 30 @ 5:00 pm
  4. Waterford Legion Wings N Things

    May 31 @ 5:00 pm - 7:00 pm
  5. Port Ryerse Memorial Church Silent Auction

    May 31 @ 6:00 pm - 8:00 pm

+ On-Air & Shows