WestJet to acquire Sunwing Vacations and Sunwing Airlines
Torys is acting as counsel to Sunwing with a team that includes Cameron Koziskie, Laurie Duke, Stephen Neil, Claire Chapman and Danielle Marjoram (corporate/M&A), Tom Zverina (financing), Tom Stevenson (pensions and employment), Tyson Dyck (environmental), Molly Reynolds (privacy and data governance), Graham Rawlinson and Aren Thomasian (real estate), Ed Fan (IP), Andrew Wong, Jerald Wortsman, Peter Keenan, Michelle Lu, Steve Marshall and Chris Saki (tax).
On March 2, 2022, WestJet and Sunwing announced that they reached a definitive agreement under which the WestJet Group of companies will acquire Sunwing Vacations and Sunwing Airlines, bringing together two distinctly Canadian travel and tourism success stories to deliver new travel options and greater value for travellers in the rapidly expanding leisure and work-from-anywhere travel markets.
The combination is anticipated to close late 2022, subject to receipt of regulatory approvals.
Following the close of the transaction, a new tour operating business unit will be created under the WestJet Group, to include both Sunwing Vacations and WestJet Vacations Inc., led by Sunwing CEO Stephen Hunter. Sunwing's current shareholders will become equity holders in the WestJet Group.
Sunwing Airlines with join the WestJet Group of companies, adding increased capacity and dedicating otherwise seasonal aircraft to operate year-round in Canada. The acquisition will improve the WestJet Group's ability to offer more affordable fares by immediately expanding its low-cost footprint in Canada.
Further information can be found on Canada Newswire’s website.
The largest integrated travel company in North America, Sunwing has more flights to the south than any other leisure carrier with convenient direct service from airports across Canada to popular sun destinations across the U.S.A., Caribbean, Mexico and Central America.
Launched in 1996 with three aircraft, 250 employees and five destinations, WestJet has grown to more than 180 aircraft, 14,000 employees and more than 100 destinations in 23 countries, pre-pandemic.