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Onex Eyes WestJet IPO in Two Years After Stake Sale
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Heartspace News Desk
•Source: Bloomberg.com
Photo by Haberdoedas II on Unsplash
TL;DR
Onex Corp. plans to launch an IPO for WestJet within two years, following their recent sale of a 25% stake in WestJet to other airlines. Tawfiq Popatia of Onex Partners sees the IPO as a "natural next step" due to the airline industry's capital demands and suggested it is "to expect in a couple of years.".
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Key takeaways
- Investment firm Onex Corp
- anticipates launching an initial public offering (IPO) for WestJet within the next two years, according to a Bloomberg report
- This potential IPO follows Onex Corp
Investment firm Onex Corp. anticipates launching an initial public offering (IPO) for WestJet within the next two years, according to a Bloomberg report. This potential IPO follows Onex Corp.'s recent divestiture of a 25% stake in WestJet to three other airlines.
Tawfiq Popatia, head of Onex Partners, characterized an IPO as a "natural next step" for WestJet, citing the capital-intensive nature of the airline industry. He indicated that such a move is "to expect in a couple of years."
Related Topics
Onex CorpWestJetIPOinvestmentaviationstake sale
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