20:01:08 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Onex Corp
Symbol ONEX
Shares Issued 79,279,792
Close 2023-09-29 C$ 79.83
Market Cap C$ 6,328,905,795
Recent Sedar Documents

Globe/CP say Onex's WestJet to swallow Sunwing in 2024

2023-10-02 07:33 ET - In the News

The Globe and Mail reports in its Saturday edition that WestJet says it aims to wind down Sunwing Airlines and integrate the low-cost carrier into its mainline business by October of next year. A Canadian Press dispatch to The Globe says that WestJet, which bought the Toronto company's main airline and vacation divisions in May in a move representing a major consolidation of the aviation market, says Sunwing's 18 Boeing 737s and 2,000 employees will be folded into the Calgary-based carrier in a seamless transition. WestJet and Sunwing together make up 37 per cent of seat capacity on direct flights to sun destinations, and 72 per cent from Western Canada, according to a report from the Competition Bureau last fall. The Globe item notes that experts have warned that the move could mean less service and higher fares. As a condition of Ottawa's sign-off on the Sunwing acquisition, both parties pledged to maintain capacity on the most affected routes and keep the Sunwing Vacations head office in Toronto and a regional one in Montreal for at least five years.

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