WestJet to be sold in friendly deal to Onex Corp. for $5 billion

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doiwannabeapilot
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion

Post by doiwannabeapilot » Mon May 20, 2019 12:46 pm

Victory wrote:
Mon May 20, 2019 12:21 pm
Mach1 wrote:
Mon May 20, 2019 12:13 pm
I have heard that Clive is going to take the money from this sale and team up with Tim to finally launch that new Ultra Low Cost Carrier. I heard Mark is joining in and they will be flying NEO's. AC and WJ's days are numbered.
Would you go fly for them? If they gave stock options you might be a millionaire.
Will flight crew be expected to groom ?
and will the aircraft be pink or a shade of ?
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goingnowherefast
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion

Post by goingnowherefast » Mon May 20, 2019 1:34 pm

You'll have to get your apprentice ticket too so you can change tires, check oil, button up cowlings, change light bulbs, etc.
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Bede
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion

Post by Bede » Mon May 20, 2019 1:50 pm

Mach1 wrote:
Mon May 20, 2019 12:13 pm
I have heard that Clive is going to take the money from this sale and team up with Tim to finally launch that new Ultra Low Cost Carrier. I heard Mark is joining in and they will be flying NEO's. AC and WJ's days are numbered.
Lol. Because they're all old pals and Onex forgot to put non-compete clauses in the deal...
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Victory
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion

Post by Victory » Mon May 20, 2019 2:10 pm

Guys don't be ridiculous.
There's no need to put in a non-compete clause if you are just selling everything off to highest bidder.
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Ex DC10 Driver
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion

Post by Ex DC10 Driver » Tue Jun 25, 2019 9:27 am

Federal Transport Minister Marc Garneau has given his approval to the proposed $3.5-billion acquisition of WestJet Airlines by Onex Corp.

The Calgary-based airline says the minister determined the deal doesn't raise public-interest issues for national transportation.

WestJet and Onex entered into a friendly deal last month to pay $31 per share cash for the airline, which will operate as a privately held company.

The offer was a reduction from the preliminary price of $35.75 per share submitted in March due to uncertainties related to the grounding of Boeing 737 Max jets, according to the proxy circular provided to shareholders.

Garneau's approval is one of the conditions for the deal to close.

The deal is also subject to other regulatory approvals and approval of WestJet shareholders at a meeting July 23.
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Hangry
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion

Post by Hangry » Mon Aug 12, 2019 4:05 pm

brooks wrote:
Tue May 14, 2019 7:24 pm
Duke Point wrote:
Tue May 14, 2019 4:01 pm
Air Canada will not be sitting on its hands.

WestJet has more than its work cut out for itself if it wants to secure anywhere near a 10B market cap. That market share has to come from somewhere, and AC won't be giving up any willingly.

Don't ever underestimate CR....he's a shark, and likely smarter and far more experienced and connected in aviation than Gerry.

Interesting times ahead.

DP.
It's called eating your lunch bud. That's exactly what WJ is going to do to AC on it's international routes. The 787 product is identical if not better than AC and WJ costs structure is lower.
I wonder how that lunch is going to taste now true believer. :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
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Victory
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion

Post by Victory » Mon Aug 12, 2019 4:11 pm

I wonder why Onex doesn't just pony up the money for Transat. Without it WestJet is going to get decimated and their investment will be lost.
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