CALGARY, July 26, 2019 /CNW/ - WestJet Airlines Ltd.
(TSX: WJA) ("WestJet") today announced that the Court of
Queen's Bench of Alberta has
granted a final order approving the previously announced proposed
transaction with Onex Corporation ("Onex") (TSX: ONEX) (the
"Arrangement"). The Arrangement was approved by more than
92.5 per cent of shareholders and optionholders who voted at a
special meeting of WestJet held on July 23,
2019.
The Arrangement is still subject to other conditions to closing,
including receipt of the remaining regulatory approvals.
Further information regarding the Arrangement is provided in
WestJet's management information circular dated June 19, 2019. Assuming the timely receipt of the
remaining regulatory approvals, the transaction is expected to
close in the latter part of 2019.
Caution regarding forward-looking information
Certain
information set forth in this news release, including, without
limitation, information regarding the timing and anticipated
receipt of required regulatory approvals and the anticipated timing
for closing the transaction, is forward-looking information within
the meaning of applicable securities laws. By its nature,
forward-looking information is subject to numerous risks and
uncertainties, some of which are beyond WestJet's control. The
forward-looking information contained in this news release is based
on certain key expectations and assumptions made by WestJet,
including expectations and assumptions concerning the anticipated
benefits of the transaction and the receipt, in a timely manner, of
regulatory and court approvals in respect of the transaction.
Forward-looking information is subject to various risks and
uncertainties which could cause actual results and experience to
differ materially from the anticipated results or expectations
expressed in this news release. The key risks and uncertainties
include, but are not limited to: general global economic, market
and business conditions; governmental and regulatory requirements
and actions by governmental authorities; relationships with
employees, customers, business partners and competitors; and
diversion of management time on the transaction. There are also
risks that are inherent in the nature of the transaction, including
failure to satisfy the conditions to the completion of the
transaction and failure to obtain any required regulatory and other
approvals (or to do so in a timely manner). The anticipated
timeline for completion of the transaction may change for a number
of reasons, including the inability to secure necessary regulatory,
court or other approvals in the time assumed or the need for
additional time to satisfy the conditions to the completion of the
transaction. As a result of the foregoing, readers should not place
undue reliance on the forward-looking information contained in this
news release concerning the timing of the transaction. A
comprehensive discussion of other risks that impact WestJet can
also be found in WestJet's public reports and filings which are
available under WestJet's profile at www.sedar.com.
Readers are cautioned that undue reliance should not be placed
on forward-looking information as actual results may vary
materially from the forward-looking information. WestJet does not
undertake to update, correct or revise any forward-looking
information as a result of any new information, future events or
otherwise, except as may be required by applicable law.
About WestJet
The WestJet group of companies offers
scheduled service to more than 100 destinations in North America, Central America, the Caribbean and Europe and to more than 175 destinations in
over 20 countries through scheduled service to more than 100
destinations in North America,
Central America, the Caribbean and Europe and to more than 175 destinations in
over 20 countries through our airline partnerships. WestJet
Vacations offers affordable, flexible vacations to more than 60
destinations and the choice of more than 800 hotels, resorts,
condos and villas. Members of the WestJet Rewards program earn
WestJet dollars on flights, vacation packages and more. Members use
WestJet dollars towards the purchase of flights and vacations
packages to any WestJet destination with no blackout periods and
have access to Member Exclusive fares offering deals to WestJet
destinations throughout our network and those of our partner
airlines.
WestJet is proud to be recognized for three consecutive years as
Best Airline in Canada (2017-19)
and awarded among travellers' favourite Mid-Sized Airlines in
North America (2019). From
2017-2018, WestJet was also awarded among travellers' favorite
Mid-Sized and Low-Cost Airlines in North
America. The airline was also recognized among the Economy
Class winners in North America,
2018. All awards are based on authentic reviews from the travelling
public on TripAdvisor, the world's largest travel site. We are one
of very few airlines globally that does not commercially
overbook.
WestJet is publicly traded on the Toronto Stock Exchange
(TSX) under the symbol WJA. For more information about
everything WestJet, please visit westjet.com.
Recent recognition includes:
2019/2018/2017 Best Airline in Canada (TripAdvisor Travellers' Choice awards
for Airlines)
2019 Winner Among Mid-Sized Airlines in North America (TripAdvisor Travellers' Choice
awards for Airlines)
2018/2017 Winner Among Mid-Sized and Low Cost Airlines –
North America (TripAdvisor
Travellers' Choice awards for Airlines)
2018 Winner – Economy, North
America (TripAdvisor Travellers' Choice awards for
Airlines)
2018 Number-One-Ranked Airline Credit Card in Canada (Rewards Canada)
2018 North America's Best Low-Cost
Airline (Skytrax)
2018/2017/2016 Canada's Most
Trusted Airline (Gustavson School of Business at the University of Victoria)
Connect with WestJet on Facebook at
facebook.com/westjet
Follow WestJet on Twitter at twitter.com/westjet
Follow WestJet on Instagram
at instagram.com/westjet/
Subscribe to WestJet on YouTube at youtube.com/westjet
Read the WestJet blog at blog.westjet.com
Website: www.westjet.com
SOURCE WESTJET, an Alberta Partnership