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Up until 2019 Westjet was employee-owned.
Now ...
WestJet Airlines Ltd. is operated by WestJet Group, a private company, incorporated and domiciled in Canada, which since December 2019 has been owned by Toronto-based private equity firm Onex Corporation. https://en.wikipedia.org/wiki/WestJet
PE once again proving it is shit.
Up until 2019 Westjet was employee-owned.
Do you know the story of how the sale happened?
From 2 different sources
Shareholders of WestJet Airlines on Tuesday voted in favor of its deal to be acquired by billionaire Gerry Schwartz's private equity firm Onex Corp for C$3.5 billion.
More than 92.5% of the votes cast at the special meeting were in favor of the proposed deal, the company said in a statement.
The C$31 per share deal, announced in May, received a green light from Canada's transport minister last month.
WestJet has reported a decline in net profit for each of the last three years, hurt by rising fuel costs, pressure on ticket prices and other problems.
On May 13, 2019, WestJet announced that it had accepted an offer from Onex Corporation to purchase the company, a $5-billion deal that would require shareholder approval (in July) and regulatory approval. The offer was for $31 a share, substantially higher than the closing price of approximately $18 at the close of trading on the previous business day.
https://en.wikipedia.org/wiki/WestJet
Seems they were losing money and the offer was too good to pass up.
Thank you for the work!
You're welcome. :)
They'll never be able to calculate how much they lost immediately and the future losses due to this stupidity.
$Millions, if not tens of....
They’ll never bother trying.
They will write to the government asking for handouts though, and blame the trade war or some shit.
Not that I'd recommend flying with them again anyway, but don't fly with them until 2027 at the earliest or risk suffering
The overhaul will likely be completed by year's end, he said.
It is brutal. I'm not even 5'10" and my knees were pressed into the seat in front of me. I felt sorry for the guy across the aisle that was at least 6'.
Anything for a buck. I'm surprised they're actually reversing it.
WestJet only reversing it because word started to get around and people were swearing never to fly WestJet again. If there were no possible alternatives for flyers, they would not have cared.
Also seems like a safety issue. In a crash, a shift of your seat back slightly forward, plus your own body moving is going to crush your femurs. I would think you at least need a few inches of air buffer. Not to mention fast exiting hindered by not having space to move properly
Too little too late, already switching off their services
Complaining works, folks!!
Social media complaining does.
Hah. Too late, will never fly with them again.
So from the edge of my back to the tip of my knee is 27 inches. Take 4" for the thickness of the seat and I'm already 2" in the hole at a 29" pitch. these airlines can go fuck themselves, I'm to the point where I am uncomfortable enough to need to take painkillers for a 2 hour flight.
Reminds me of how they used railway cars back in WWII Germany. DVALJ.