WestJet Airlines to acquire Sunwing

WestJet Airlines is acquiring Sunwing Airlines, as competition in the Canadian travel market heats up. WestJet released a statement on Wednesday confirming the news, adding that "the transaction will bring together two distinctly Canadian travel and tourism success stories." Under the agreement, WestJet will create a new tour operator unit headed by Sunwing CEO Stephen Hunter that includes Sunwing Vacations and WestJet Vacations as separate brands. The WestJet Group of companies will expand to include Sunwing Airlines. The company says this will add capacity as it sees otherwise seasonal aircraft operate year-round. Currently, Sunwing supplements seasonal demand with imported aircraft. Both airlines are privately held. Toronto-based Sunwing is controlled by the Hunter family and WestJet was purchased by Onex Corp. in 2019. Crystal Hill, vice-president of CUPE 4070, the union that represents WestJet flight attendants, attributed the financial stability of Onex to the company having stronger net earnings last year. "This is positive overall," she said, observing that the deal suggests faith in a travel market rebound. The agreement, which is subject to regulatory approvals, is expected to close late this year. <br/>