Onex Partners Sells Minority Stake in WestJet to Global Airlines

ONEX Corporation ( (TSE:ONEX) ) has issued an announcement.

Onex Partners and its affiliated funds have completed the sale of a 25% equity stake in WestJet to Delta Air Lines, Korean Air, and Air France-KLM. This strategic partnership aims to enhance WestJet’s market position and create long-term value for its stakeholders. Despite the sale, Onex retains a 75% ownership of WestJet, underscoring its continued commitment to the airline’s growth and strategy. The involvement of prominent global airlines reflects confidence in WestJet’s performance and future prospects.

The most recent analyst rating on (TSE:ONEX) stock is a Hold with a C$141.00 price target. To see the full list of analyst forecasts on ONEX Corporation stock, see the TSE:ONEX Stock Forecast page.

Spark’s Take on TSE:ONEX Stock

According to Spark, TipRanks’ AI Analyst, TSE:ONEX is a Outperform.

ONEX Corporation’s overall stock score reflects strong financial performance and positive earnings call sentiment, which are the most significant factors. The technical analysis indicates a neutral to slightly bearish trend, and the valuation suggests the stock is fairly priced. The absence of notable corporate events does not impact the score.

To see Spark’s full report on TSE:ONEX stock, click here.

More about ONEX Corporation

Onex Corporation is a Canadian investor and alternative asset manager that invests and manages capital on behalf of its shareholders and clients globally. With a history dating back to 1984, Onex has a significant presence in the private equity market, managing approximately $55.9 billion in assets. WestJet, a major Canadian low-cost airline and vacation provider, is part of the Onex portfolio, offering affordable air travel and vacation services across multiple destinations.

Average Trading Volume: 73,346

Technical Sentiment Signal: Buy

Current Market Cap: C$8B

For an in-depth examination of ONEX stock, go to TipRanks’ Overview page.