The private aviation industry has witnessed a significant deal as Onex Partners, TriWest Capital Partners, and a group of co-investors announced the acquisition of AirSprint Inc., Canada’s largest fractional private jet ownership company.
Although the financial terms of the transaction have not been disclosed, the acquisition is considered one of the most notable mergers and acquisitions (M&A) in the private aviation sector in 2026. The investment is expected to support AirSprint’s long-term growth by expanding its fleet, enhancing technology, improving customer services, and strengthening its market position.
Latest News
On June 25, 2026, Onex Partners officially announced that its Onex Partners Opportunities Fund, together with TriWest Capital Partners and other co-investors, had entered into an agreement to acquire AirSprint Inc.
Key highlights of the transaction include:
- AirSprint Founder Judson Macor will remain an investor and serve as Chairman Emeritus.
- CEO James Elian will continue leading the company.
- The existing management team will remain in place to ensure business continuity.
- The transaction is expected to close during the third quarter (Q3) of 2026, subject to customary closing conditions.
- The financial value of the deal has not been publicly disclosed.
Deal Snapshot
| Details | Information |
| Acquirer | Onex Partners, TriWest Capital Partners & Co-investors |
| Target Company | AirSprint Inc. |
| Industry | Private Aviation |
| Country | Canada |
| Deal Type | Acquisition |
| Deal Status | Announced |
| Expected Closing | Q3 2026 |
| Deal Value | Not Disclosed |
Company Overview: Onex
Onex Corporation is one of Canada’s leading private equity and alternative asset management firms.
Founded: 1984
Headquarters: Toronto, Canada
Core Business
- Private Equity Investments
- Credit Investments
- Alternative Asset Management
- Long-Term Business Ownership
The company manages approximately US$56 billion in assets under management (AUM) and has invested in numerous businesses across North America and Europe. Onex focuses on acquiring high-quality companies with strong long-term growth potential.
Company Overview: AirSprint
AirSprint Inc. is Canada’s largest fractional private jet ownership company.
Headquarters: Calgary, Alberta
Additional Offices:
- Toronto
- Montréal
Key Facts
- More than 600 fractional owners
- Over 400 employees
- Canada’s largest fractional private jet fleet
- Operations across Canada and North America
AirSprint enables customers to enjoy private jet travel without purchasing an entire aircraft by offering shared ownership through its fractional ownership program.
What is Fractional Jet Ownership?
Buying an entire private jet is extremely expensive and often unnecessary for many business executives or frequent travelers.
AirSprint offers an alternative solution through fractional ownership.
For example, if a private jet costs US$10 million, multiple individuals or businesses can each purchase a share of the aircraft.
Each owner receives a predetermined number of flight hours annually while AirSprint manages:
- Aircraft maintenance
- Pilots and crew
- Scheduling
- Operations
- Regulatory compliance
This allows customers to experience private aviation at a significantly lower cost than owning an entire aircraft.
Why Did Onex Acquire AirSprint?
1. Growing Demand for Private Aviation
Demand for private aviation has increased significantly in recent years.
Business leaders, entrepreneurs, and high-net-worth individuals increasingly prefer private aviation because it offers:
- Greater privacy
- Time savings
- Flexible scheduling
- Premium travel experience
This trend has created attractive long-term growth opportunities within the sector.
2. Strong Recurring Revenue Model
AirSprint operates on a recurring revenue business model.
Its revenue comes from:
- Fractional ownership sales
- Management fees
- Monthly service fees
- Flight usage charges
Businesses with stable and predictable recurring cash flows are highly attractive to private equity investors.
3. Market Leadership
AirSprint already holds a leadership position in Canada’s fractional private aviation market.
Its competitive strengths include:
- Strong brand reputation
- Large customer base
- Experienced management team
- Modern aircraft fleet
Onex sees significant value in investing in an established market leader rather than building a business from scratch.
4. Long-Term Growth Strategy
According to Onex, the acquisition is designed to accelerate AirSprint’s future growth.
Potential investment areas include:
- Fleet expansion
- Technology upgrades
- Operational improvements
- Enhanced customer experience
- Geographic expansion
- Strategic business development
These initiatives are expected to strengthen AirSprint’s competitive advantage over the coming years.
What Will Change After the Acquisition?
One of the most reassuring aspects of the transaction is that AirSprint’s leadership team will remain in place.
This means:
- The founder will continue supporting the company.
- The CEO will continue leading daily operations.
- Existing management will maintain business continuity.
- Customers should experience uninterrupted service.
- Employees are expected to benefit from additional long-term investment.
Rather than restructuring the company, Onex aims to support and accelerate its future growth.
Impact on the Private Aviation Industry
The acquisition reflects growing confidence among institutional investors in the private aviation industry.
The sector offers several attractive characteristics, including:
- Stable recurring revenue
- Loyal long-term customers
- Premium pricing
- Strong cash flow generation
- High barriers to entry
As a result, private equity firms continue increasing their investments in aviation-related businesses.
What Does This Mean for Investors?
Although AirSprint is a privately held company and not publicly listed, the transaction offers valuable insights for investors.
It indicates that:
- Private aviation remains an attractive long-term investment sector.
- Subscription-based and recurring revenue businesses continue to command premium valuations.
- Private equity firms are actively targeting high-quality businesses with sustainable growth potential.
- Additional mergers and acquisitions in the aviation industry could emerge in the coming years.
Outcome
The acquisition of AirSprint by Onex represents more than just a change in ownership—it reflects growing institutional confidence in the future of the private aviation industry.
With AirSprint already holding a dominant position in Canada’s fractional jet market, Onex’s financial resources, operational expertise, and long-term investment strategy could help the company accelerate its expansion, modernize its fleet, and further enhance customer experience.
The transaction also highlights a broader trend in the investment landscape: private equity firms are increasingly focusing on businesses with recurring revenue, strong customer loyalty, predictable cash flows, and sustainable long-term growth potential. As demand for premium business aviation continues to rise, this acquisition may serve as a catalyst for further consolidation and investment across the global private aviation sector.
Source: onex news
