Onex Bets Big on Canada's Private Skies with AirSprint Acquisition

TORONTO, ON – June 25, 2026 – In a decisive move that underscores the soaring value of private aviation, private equity heavyweight Onex Partners has announced its acquisition of AirSprint Inc., Canada's largest fractional jet operator. The deal, made alongside TriWest Capital Partners and other co-investors, injects significant institutional capital into a market leader poised for accelerated growth, signaling a new era for luxury and business travel in the nation.

This is not merely a financial transaction; it's a strategic partnership designed to cement AirSprint's dominance. The company’s founder, Judson Macor, and its President & CEO, James Elian, will remain significant investors and retain key leadership roles, ensuring that the operational expertise and founding vision that built the company will continue to guide its future. For Onex, a global firm with approximately $56 billion in assets under management, the acquisition represents a calculated entry into a high-growth, resilient sector with a proven leader at its helm.

Onex's Strategic Ascent into a High-Growth Market

Onex Partners' investment in AirSprint is a textbook example of its strategy: identifying market-leading companies in specialized industry verticals and providing the resources to scale. While private aviation might seem like a niche play, the data reveals a sector with powerful tailwinds. The Canadian luxury travel market is projected to grow at a compound annual rate of 8.7% from 2026 to 2033, and private flight activity has maintained a level 50% higher than pre-pandemic figures, indicating a structural shift in travel preferences among corporations and high-net-worth individuals.

This acquisition aligns perfectly with Onex's refined approach to value creation. The firm has increasingly focused on leveraging its dedicated operating partner function to drive performance improvements within its portfolio companies. This suggests that Onex will provide more than just capital; it will bring strategic and operational expertise to help AirSprint expand its fleet, enhance its technology, and optimize its operations. Faiz Hemani, a Managing Director at Onex Partners, confirmed this vision, stating, “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.”

By acquiring AirSprint, Onex is not just buying a fleet of aircraft; it is investing in a dominant platform with a defensible market position and a clear runway for growth, bolstered by favorable economic and regulatory trends.

Fueling AirSprint's Market Dominance

AirSprint already commands an impressive 29% of all private jet departures in Canada—more than three times the share of its closest competitor. The company's status as one of “Canada's Top Growing Companies,” with 117% revenue growth over three years, is a testament to its successful model and execution. The firm has been aggressively expanding to meet demand, growing its fleet to 44 aircraft by May 2026 and opening a new 6,000-square-foot operations center to serve as its logistical nerve center.

The investment from Onex is poised to act as a powerful accelerant. It provides the capital necessary to fast-track strategic initiatives, including further fleet expansion and the potential addition of larger, longer-range aircraft to meet client demand for transcontinental and international travel. As the only dedicated fractional ownership specialist in Canada, this backing solidifies AirSprint’s unique position.

This move is also perfectly timed with a significant regulatory shift. The recent federal repeal of the 10% “luxury tax” on aircraft acquisitions has removed a major headwind for the industry, creating a more favorable environment for fleet renewal and expansion. Onex’s investment enables AirSprint to capitalize on this opportunity immediately, further strengthening its competitive advantage.

“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,” said James Elian, AirSprint’s President & CEO.

The Enduring Appeal of the Fractional Model

The post-pandemic world has fundamentally reshaped perceptions of travel, prioritizing safety, efficiency, and control. This shift has been a significant boon for the fractional ownership model, which offers a compelling middle ground between on-demand charter services and the immense capital outlay of full aircraft ownership. Fractional owners purchase a share of an aircraft, guaranteeing access and predictable costs without the complexities of managing crew, maintenance, and logistics.

This model has proven particularly effective in Canada, where AirSprint has captured over half of the market's recent growth. It serves as an accessible entry point for first-time private flyers who were introduced to the benefits of private aviation during the pandemic and are now seeking a more permanent solution. By eliminating positioning fees and providing seamless coast-to-coast service, AirSprint has made private jet travel a more viable and efficient tool for businesses and individuals alike.

A Legacy of Leadership Guides the Next Chapter

A critical element of this acquisition's strategic strength lies in its leadership continuity. Judson Macor, who founded AirSprint 26 years ago and built it from a single aircraft into a national leader, will transition to the role of Chairman Emeritus. His continued involvement as a shareholder and board member ensures that his invaluable experience and the company's core values remain intact.

In his statement, Macor framed the deal not as an exit, but as an evolution. “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,” he said. This sentiment underscores the collaborative nature of the partnership.

By retaining James Elian as President & CEO, Onex ensures that the proven leadership responsible for AirSprint's recent explosive growth remains at the controls. This blend of founder legacy, proven executive leadership, and powerful institutional backing creates a formidable combination, positioning AirSprint to not only continue its growth trajectory but to redefine the landscape of private aviation in Canada for years to come.