TORONTO — WestJet is reportedly in talks to acquire Sunwing Airlines.

The news comes via BNN Bloomberg, which reports the deal could be announced this week, and potentially as early as today.

WestJet is majority-owned by Onex Corp., which took the airline private. That deal went through a few years ago, with the two companies making it official in December 2019. The transaction value was $5 billion including assumed debt.

This is just the latest attempted match up in Canada’s airline industry, and comes after a turbulent two years of the pandemic. In April 2021 Air Canada and Transat announced the end of their proposed merger proceedings, after a long delay and then a thumbs down from the European Commission. The Air Canada – Transat deal had been in the works for almost two years, since June 2019.