Onex Corp scored cut-price deal for WestJet due to 737 Max grounding
Canada’s transport minister Marc Garneau has given the green light to Onex Corp’s acquisition of WestJet Airlines.
No public-interest issues were raised by the government, the airline said, paving the way for the takeover.
"We welcome the decision and we will continue to cooperate with the necessary authorities on the remaining regulatory approvals," said WestJet CEO Ed Sims.
WestJet shareholders still need to approve the deal at a meeting next month.
Onex initially submitted a bid in March for the airline at $35.75 per share.
However it then sealed a cut-price deal at $31 per share after the grounding of Boeing 737 Max aircraft and the resulting uncertainty over its pathway to re-certification.
The grounded plane makes up about 10% of WestJet’s seat capacity.
Air Canada’s proposed takeover of airline and tour operator group Transat AT would likely raise anti-trust scrutiny if it is successful but its far from a done deal.
Air Canada’s exclusivity period runs out this week, and there is a competing, higher bid from Quebec based real estate firm Group Mach Inc.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports