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Sunwing reveals bid for its airline business
Sunwing Travel Group says it has received an offer for its airline business.
Sunwing CEO Stephen Hunter told the Globe and Mail an offer has been tabled by an undisclosed bidder which won’t be named due to a non-disclosure agreement.
More details will be disclosed in the coming weeks.
The Hunter family is the majority owner of Sunwing while European travel firm TUI owns a 49% stake.
"The airline is a vehicle in order to get our package customers from point A to point B. So our airline really is the cost department within our tour operator. And therefore, one really can’t go without the other. Of course, Sunwing Vacations provides about 30% of the customers to our own hotels," Hunter said.
Sunwing Airlines and Sunwing Vacations were just approved for a $375 million loan from Canada’s Large Employer Emergency Financing Facility.
It is the first airline to get financial help.
Sunwing Airlines has halted flights until 30 April due to Canada’s ban on flights to Mexico and the Caribbean.
Written by Ray Montgomery, US Editor
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TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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