Private equity firm Onex Partners is buying AirSprint Inc., the Calgary-based company that pioneered fractional jet ownership in Canada, in a deal that hands the country's largest private aviation operator its first institutional backers.
The acquisition, made through the Onex Partners Opportunities Fund alongside TriWest Capital Partners and other co-investors, will keep AirSprint's leadership in place. Founder and chairperson Judson Macor, president and chief executive officer James Elian, and certain current shareholders will remain investors after the deal closes.
AirSprint sells shares in private aircraft rather than whole planes, giving its more than 600 owners access to a fleet without the cost of sole ownership. The company, which employs more than 400 people and runs offices in Toronto and Montréal in addition to its Calgary base, has grown into the largest fractional operator in the country over more than two decades.
"For the past 26 years, AirSprint's success has been built on the trust, dedication and support of our employees, fractional owners, partners, suppliers and shareholders," AirSprint founder and chairperson Judson Macor said in a press release. "I am deeply grateful to everyone who has contributed to our journey and helped establish AirSprint as Canada’s leading private aviation company. Today marks an exciting new chapter as we welcome Onex and its co-investors as our first institutional investors. Their investment is a strong endorsement of the business we have built and the opportunities ahead, and their experience, resources and long-term perspective will help support AirSprint’s continued growth."
"What makes AirSprint special is our people," added James Elian. "As we enter this next chapter, I am excited to work with Onex, whose commitment to supporting our team, serving our fractional owners and advancing AirSprint's long-term vision gives me great confidence that AirSprint will continue delivering the safety, service, reliability and value our fractional owners depend on today and will expect in the years ahead."
"Judson Macor founded and grew the company from a single aircraft into a national private aviation platform defined by an uncompromising dedication to its fractional owners, and we're proud to help carry that legacy forward," said Faiz Hemani, a managing director at Onex Partners. "We're excited to back James Elian and the entire team to execute their plan to grow AirSprint's core business, expand its offerings and continue to deliver the safety standards and white-glove service that set AirSprint apart."
Goodmans LLP acted as Canadian legal counsel, Kirkland & Ellis LLP as U.S. legal counsel, and DLA Piper LLP as aviation regulatory counsel to Onex Partners and its co-investors. RBC Capital Markets acted as exclusive financial advisor to the buyers.
Blake, Cassels & Graydon LLP acted as legal counsel to AirSprint, with CIBC Capital Markets and Jefferies, LLC acting as financial advisors.
Gowling WLG acted as Canadian tax counsel to AirSprint founder Judson Macor, with a team led by Carl Hinzmann and Brian Cohen.
The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions.
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