National

WestJet Group to buy Sunwing Airlines amid turbulent global travel market

Darpan News Desk The Canadian Press, 02 Mar, 2022 11:58 AM

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.

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.

Prev Next

MORE National ARTICLES

Omicron fears prompt new B.C. restrictions

The new public health measures range from limits on venues that hold more than 1,000 people to 50 per cent capacity to no youth or adult sports tournaments over the Christmas holiday period and cancellation of all New Year's Eve parties, Henry said. Indoor family gatherings, including those at rental or holiday properties, are limited to one household, plus 10 guests, and everyone must be vaccinated.

Omicron fears prompt new B.C. restrictions

789 COVID19 cases for Friday

There are 4,313 active cases of COVID-19 in the province, and 218,960 people who tested positive have recovered. Of the active cases, 191 individuals are in hospital and 74 are in intensive care. The remaining people are recovering at home in self-isolation.

789 COVID19 cases for Friday

Canada's auto sector side-swiped by U.S. politics

The tax-credit scheme that President Joe Biden is proposing to encourage U.S. consumers to buy more electric vehicles might never be implemented in its current form, say veteran observers of both North America's auto sector and Canada-U.S. relations.

Canada's auto sector side-swiped by U.S. politics

Canadians urged to get COVID-19 booster jabs

The push for Canadians to get their vaccine booster shots is ramping up as the COVID-19 Omicron variant spreads across the country, triggering more pandemic restrictions in some provinces. Starting Monday in Quebec, all bars, restaurants, retail stores and places of worship will be limited to 50 per cent capacity.

Canadians urged to get COVID-19 booster jabs

Pedestrian struck and killed in Surrey

On Thursday, at around 7:21 pm, the Surrey RCMP responded to a person lying on the ground in the 8000 block of 144 Street. BC Ambulance Service and Surrey Fire Department personnel attended and pronounced the pedestrian deceased at scene.

Pedestrian struck and killed in Surrey

Military wants 'irreversible' change in five years

The senior officer tasked with changing the Canadian military's culture says while she and her team are already working on initiatives to tackle sexual misconduct and hate in the ranks, victory will look like "irreversible positive changes" within five years.