WestJet Airlines has finalized its purchase of rival Sunwing.
Calgary-based WestJet announced that Sunwing will now be integrated into its operations after previously stating that Sunwing would operate independently.
The Sunwing acquisition gives privately held WestJet 18 Boeing 737 aircraft, 2,000 employees, and Canada's largest vacation tour operator.
On March 10, the federal government approved WestJet’s takeover of Sunwing Airlines.
However, the deal’s approval was based on certain conditions being met, including bringing Sunwing packages to five new Canadian cities, and maintaining a head office for the vacation business in Toronto and a regional office in Montreal for at least five years.
Former Sunwing Vacations chief executive officer (CEO) Stephen Hunter will be responsible for operating the vacation package and tour operation businesses for Sunwing and WestJet.
WestJet announced its acquisition of Sunwing Airlines in March 2022, subject to government approval.
WestJet is owned by Toronto-based private equity firm Onex Corporation (ONEX). In the past 12 months, Onex’s stock has declined 19% to $62.32 per share.
