Onex slashed proposed offer for WestJet due to grounding of the Boeing 737 Max plan
Onex Corp slashed its proposed offer for WestJet Airlines as a result of the grounding of the airline's Boeing 737 Max aircraft and other uncertainties before agreeing to pay C$31 per share for the carrier. The private equity fund March 25 made a written, non-binding offer of $35.75 per share to purchase the airline, with terms including satisfactory due diligence. The offer followed a few weeks of conversation, but coincided with the grounding of the world's fleet of 737 Max planes after 2 fatal crashes. WestJet operates 13 737 Max plan and has another 57 on order. After the model was grounded, WestJet suspended financial guidance and interrupted several routes. It is not clear when the planes will be cleared to continue flying. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-06-25/unaligned/onex-slashed-proposed-offer-for-westjet-due-to-grounding-of-the-boeing-737-max-plan
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Onex slashed proposed offer for WestJet due to grounding of the Boeing 737 Max plan
Onex Corp slashed its proposed offer for WestJet Airlines as a result of the grounding of the airline's Boeing 737 Max aircraft and other uncertainties before agreeing to pay C$31 per share for the carrier. The private equity fund March 25 made a written, non-binding offer of $35.75 per share to purchase the airline, with terms including satisfactory due diligence. The offer followed a few weeks of conversation, but coincided with the grounding of the world's fleet of 737 Max planes after 2 fatal crashes. WestJet operates 13 737 Max plan and has another 57 on order. After the model was grounded, WestJet suspended financial guidance and interrupted several routes. It is not clear when the planes will be cleared to continue flying. <br/>
