Updated 9:38 am PDT, Monday, May 13, 2019 CALGARY, Alberta (AP) — Canadian private equity firm Onex Corp. has signed a friendly deal to buy Canada’ second largest airline. The all-cash deal for WestJet Airlines Ltd is valued at $5 billion Canadian ($3.71 billion). Onex will pay $31 Canadian (US$23) per share for WestJet. The price represents about a 67 per cent premium on the shares. It will be privately held and continue to be based in Calgary, Alberta. The Toronto-based private equity firm approached the airline in March. WestJet employs 14,000 people and has a fleet of about 180 planes.