One of the country's major airlines is spreading its wings. WestJet -- whose home base is in Calgary, Alberta -- has lit up the corporate world with news that it is intending to beef up its presence in the eastern part of the country. The announcement comes on the tails of the airline's sale to a private equity firm for $5 billion. WestJet plans to fly into Pearson International Airport more frequently.
The company -- whose CEO says it's proud of its Alberta roots -- will keep its corporate headquarters in Cow Town with no plans to introduce an offshoot of EastJet. He also says the sale has brought relief and satisfaction after the friendly takeover this past May. With its interests now in the hands of a private company, WestJet won't have to reveal quarterly results, nor will it have to reveal pertinent information to investors or to competitors which, the CEO adds, gives the company a leg up on the competition.
WestJet came into existence in 1996 with the notion of providing travellers flights at a lower cost with employees who weren't unionized and with no special seating like business or first class. It has since become Canada's second largest airline. The company says it will experience no direct job losses as a result of the sale.
Business deals such as these in Alberta always need the input of a lawyer experienced in corporate law. Such a lawyer can aid in negotiations as well as draft and review contracts and other agreements that go hand in hand with these transactions. Having a lawyer's advice ensures that the laws that oversee these business deals adhere with provincial and federal laws.