Delta Air Lines and Korean Air have jointly acquired a 25% stake in Canadian carrier WestJet for $550 million. Under the agreement, Delta invested $330 million for a 15% stake, while Korean Air contributed $220 million for a 10% stake.
Following the acquisition, Delta transferred 2.3% of its shares to its joint venture partner Air France-KLM for $50 million, bringing the total SkyTeam member ownership in WestJet — Delta, Korean Air, and Air France-KLM — to 25%.
WestJet CEO Alexis von Hoensbroech described the deal as “a significant step in strengthening airline partnerships,” adding that the company aims to “create long-term value together with our new partners.”
Onex Partners will retain its 75% majority ownership in the airline.
