CALGARY, AB, Oct. 26, 2022 - The WestJet Group today issued a statement following the release of the Competition Bureau's advisory report on the company's proposed acquisition of Sunwing Vacations and Sunwing Airlines, and the Canadian Transportation Agency's positive determination.
"We thank the Competition Bureau and welcome their report," said Angela Avery, WestJet Group Executive Vice-President and Chief People, Corporate and Sustainability Officer. "We look forward to bringing this transaction to life for the benefit of Canadian travellers, communities and employees."
The Bureau's report is advisory and non-binding but will support the Minister of Transport's public interest assessment. The final decision, made by the Cabinet on the Minister of Transport's recommendation, will consider additional factors presented in the WestJet Group's application, including the preservation of Sunwing's brand, the commitment to maintain Sunwing's Toronto and Montreal offices, new flying that will be created by retaining Sunwing's aircraft in Canada year-round and the resulting new employment opportunities.
Separately, the Canadian Transportation Agency has issued its positive determination of the proposed transaction. WestJet thanks the Agency for its review. With the publication of the Bureau's report and the issuance of the Agency's determination, the transaction's regulatory review process moves into its next stage.
The WestJet Group announced its intent to acquire Sunwing on March 2, 2022. The transaction is a central piece to the WestJet Group's commitment to prioritize leisure and sun travel from coast to coast and increase affordable air and vacation package offerings for all Canadians.
The transaction is expected to close by spring 2023 pending remaining regulatory and government approvals.