Westcap Mgt. Ltd, a private equity and venture capital fund manager specialising in western Canada, has made an undisclosed investment in Northway Aviation (NAL, Winnipeg St. Andrews) and its leasing arm, Northway Aircraft Leasing LP, which will begin the next phase of the Canadian regional carrier's growth.
Grant J. Kook, Westcap's President and Chief Executive Officer (CEO), said in a joint statement that the company is looking to partner in providing critical essential air services (EAS) to northern Manitoba and Ontario residents.
Chris Mellen, Northway’s CEO, added, “Over the last five years, we have made significant investments in our fleet and have continually optimised our services to best meet the growing needs of our passengers. We look forward to continuing this growth trajectory alongside our new partners.”
The current ownership group, which is made up of members of the Johnson family, will maintain a significant investment in the business. ch-aviation has reached out to Northway Aviation for comment on the percentage changes following Westcap's investment.
According to Transport Canada’s database, Northway Aviation’s fleet comprises nine aircraft, including four Cessna 208B(F), two Cessna (single turboprop) 208s, and three PC-12s. The company has not added a new aircraft since 2019.
Northway began operations in 1962 providing passenger and cargo flights to remote communities in eastern and north-eastern Manitoba, as well in western Ontario, including Winnipeg St. Andrews, Poplar River, Keewaywin, Deer Lake, ON, Berens River, Bloodvein, Little Grand Rapids, Sainte Therese Point, Garden Hill, Red Sucker Lake, God's Narrows, Gods River, Oxford House, and Poplar Hill.
