With a $5-billion purchase offer on the table, WestJet's CEO says the company's long-term vision hasn't changed and it will remain headquartered in Calgary. Toronto-based private equity firm Onex Corp. wants to acquire the airline — Canada's second largest behind Air Canada — and WestJet has agreed. Ed Sims said the company's roots are in Calgary and there is no plan to rip them up. Onex has deep pockets and the purchase offer has raised the possibility of consolidation with other airlines, but Sims refused to speculate when asked. Credit rating reviewThe Onex purchase has prompted Moody's Investors Service to place WestJet's credit rating under review for possible downgrade.

Source: CBC News May 14, 2019 17:15 UTC