en.Wedoany.com Reported - Canadian private equity firm Onex Corp.-led investment consortium announced the acquisition of AirSprint, the country's largest fractional jet operator.

On June 25, fund management company Onex Partners announced that Onex Partners Opportunities Fund, TriWest Capital Partners, and other co-investors have agreed to acquire the Calgary-based fractional jet operator for an undisclosed amount. The transaction is expected to close in the third quarter.

Onex Corp. previously acquired WestJet Airlines, Canada's second-largest airline, in 2019.

AirSprint operates 44 business jets, including 10 Embraer Praetor 500/600, 7 Embraer Legacy 450/500, 21 Cessna Citation CJ3+, and 6 Cessna Citation CJ2+. The company employs 400 people and reports over 600 fractional ownership owners.

Upon completion of the transaction, AirSprint founder and Chairman Judson Macor will become Chairman Emeritus. He founded the company in 2000 with a single Pilatus PC-12 turboprop aircraft. AirSprint President and CEO James Elian will continue in his executive role and remain on the board.

Onex Partners stated that the investment will support AirSprint's next phase of growth, including fleet expansion, operational improvements, technology investments, and strategic initiatives to solidify its leadership in the Canadian private aviation market.

Judson Macor expressed welcome to Onex and its co-investors as the first institutional investors, noting he will remain a significant shareholder. Macor believes the investment is a strong endorsement of the company's business and future opportunities, and that the investors' experience, resources, and long-term perspective will help support AirSprint's continued growth.

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