WestJet returns to profit, nears Onex acquisition
WestJet returned to a Q2 profit this year, while also moving one step closer to being acquired by private equity firm Onex by the end of 2019. The carrier reported a net profit of C$44.3m (US$33.7m) for the quarter ending 30 June, recovering from a loss of $15.8m the previous year. This return to profit was primarily due to increased passenger revenue and the resolution of labour disputes, the airline says in its earnings report published July 26. On the same day, the company also announced that Alberta superior court approved its proposed acquisition by Onex, clearing the latest hurdle to complete the transaction following approval by WestJet shareholders. The airline reported that revenue spiked 11.5% to $1.2b, up from $1b during Q2 of 2018. RASM increased 8.5% year-on-year from 13.7 cents to 14.9 cents year-on-year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-30/unaligned/westjet-returns-to-profit-nears-onex-acquisition
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WestJet returns to profit, nears Onex acquisition
WestJet returned to a Q2 profit this year, while also moving one step closer to being acquired by private equity firm Onex by the end of 2019. The carrier reported a net profit of C$44.3m (US$33.7m) for the quarter ending 30 June, recovering from a loss of $15.8m the previous year. This return to profit was primarily due to increased passenger revenue and the resolution of labour disputes, the airline says in its earnings report published July 26. On the same day, the company also announced that Alberta superior court approved its proposed acquisition by Onex, clearing the latest hurdle to complete the transaction following approval by WestJet shareholders. The airline reported that revenue spiked 11.5% to $1.2b, up from $1b during Q2 of 2018. RASM increased 8.5% year-on-year from 13.7 cents to 14.9 cents year-on-year. <br/>
