In this episode of Venture Journey, Fred Lazar, an aviation consultant, shares his insights on the probable reason why a private equity player, Onex, invests $5B to buy an airline company, WestJet. We discuss the nature of the industry and whether Onex will be able to generate expected returns out of this transaction. We also discuss what Onex plans to do with WestJet and the history of Onex getting into airlines in the 1990s.