Onex Corp. is promoting minority stakes in Calgary-based WestJet to Delta Air Strains and Korean Air for a complete of $550 million U.S.
Beneath the offers introduced Friday, Delta will purchase a 15 per cent stake within the Calgary-based airline for US$330 million, whereas Korean Air will purchase a ten per cent stake for $220 million U.S.
After the deal closes, Delta plans to promote a 2.3 per cent stake in WestJet to its three way partnership associate Air France-KLM for $50 million U.S.
Onex acquired WestJet in 2019.
“Delta, Korean and Air France-KLM are among the many world’s most outstanding and best-managed airways,” Tawfiq Popatia, co-head of Onex Companions, stated in a press release.
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“Onex is delighted to welcome them as shareholders in WestJet.”
WestJet and Delta have been companions since February 2011, and Korean Air and WestJet have partnered since June 2012.
“Investing in a world-class associate like WestJet aligns our pursuits and ensures that we stay centered on offering a world-class international community and buyer expertise for travellers in america and Canada,” Delta CEO Ed Bastian stated.
Delta, Korean Air, KLM and Air France are members of the SkyTeam Airline Alliance. Air Canada is a member of the rival Star Alliance community.
“This strategic partnership will improve our international community and create long-term worth for patrons via better alternative and comfort,” stated Walter Cho, chairman and CEO of Korean Air and Hanjin Group.
© 2025 The Canadian Press
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