WestJet Group (Pending Regulatory Approval) to Acquire Sunwing Airlines

Allegiant Travel Company to Acquire Sun Country Airlines in $1.5 Billion Deal

January 11, 2026

Transportation

Allegiant Travel Company has signed a definitive merger agreement to acquire Sun Country Airlines for about $1.5 billion in a cash-and-stock transaction. The combination is intended to create a larger, leisure-focused U.S. airline with an expanded route network and expected annual run-rate synergies of $140 million by the third year after closing.

Pegasus Airlines to Acquire Czech Airlines and Smartwings for €154 Million

December 11, 2025

Transportation

Pegasus Airlines has reached an agreement to acquire Czech Airlines and its subsidiary Smartwings for €154 million, including the purchase of associated receivables. Completion is subject to regulatory approvals and additional transfer conditions, and the airlines plan to maintain their own brands while leveraging shared operational capabilities.

FlyHouse to Acquire Sun Air Jets

October 15, 2025

Transportation

FlyHouse has entered into a definitive agreement to acquire Sun Air Jets, a Southern California aircraft management and charter operator. The deal is intended to expand FlyHouse’s maintenance, management, and operational capabilities, including adding FAA Part 145 Repair Station certification and expanding facilities and fleet capacity at West Coast airports.

Northway Aviation Acquires SkyNorth Air

January 21, 2025

Transportation

Northway Aviation LP, a Westcap-backed regional aviation platform, has acquired SkyNorth Air Ltd., a dedicated air ambulance provider operating in Manitoba. The deal combines complementary fleets and teams — creating a combined fleet of 17 aircraft and expanded essential medical and charter services across remote Manitoba and parts of Ontario.

Sunweb Group Acquires Airtours

November 3, 2022

Restaurants & Hospitality

Sunweb Group, a Triton Fund V portfolio company, has acquired Airtours, Sweden’s fourth-largest tour operator. The deal expands Sunweb’s Nordic footprint by adding Airtours’ ~100,000 annual travellers and complementary, asset-light product offering in Sweden.

JetBlue Airways to Acquire Spirit Airlines

June 27, 2022

Transportation

JetBlue is acquiring Spirit Airlines for $33.50 per share in cash, valuing the deal at about $3.8 billion equity (and $7.6 billion adjusted enterprise value). The offer includes an accelerated $2.50 per-share prepayment upon Spirit shareholder approval and a $0.10 per-month “ticking fee” beginning January 2023, along with an increased $400 million reverse break-up fee.