Indigo, TorQuest back launch of new low-cost Canadian airline
An investor group led by Tim Morgan, CEO of Calgary-based Enerjet, is launching a Canadian ultra-low-cost-carrier (ULCC) service in 2019. Terms weren't released for the deal, which closed today. Consortium members include Canadian investors, among them mid-market private equity firm TorQuest Partners, family office Claridge and Stephenson Management. Indigo Partners, a U.S. aviation private equity firm, is also investing. The group will back the rebranding and expansion of Enerjet as a ULCC offering destinations in Canada and the United States. Indigo Managing Partner Bill Franke said the deal aims to "significantly increase the size and competitiveness of Canada's domestic and trans-border aviation market."
20 December 2018•3 mins read
