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Delta Air Lines and Korean Air to Acquire Equity Stake in WestJet

WestJet has today announced that Delta and Korean Air will acquire independent equity stakes in the carrier for US $550 million from Onex Partners and its affiliated funds and co-investors.


Delta Air Lines and Korean Air to Take a Combined 25 Percent Stake in WestJet - Courtesy Delta Air Lines
Delta Air Lines and Korean Air to Take a Combined 25 Percent Stake in WestJet - Courtesy Delta Air Lines

On Friday (May 9, 2025)  WestJet announced that Delta Air Lines and Korean Air will acquire independent equity stakes in the carrier totaling 25 percent for $550 million from Onex Partners and its affiliated funds and co-investors (the ‘Onex Group’).  The new agreement with further align the carriers’ interests, expand customer benefits, and strengthen connectivity  between Canada and North America, Europe and Asia, and beyond.  Under the agreements, Delta will be investing US $330 million, acquiring a 15 percent stake, and Korean Air will invest US $220 million for a 10 percent stake.


In Friday’s announcement, Delta Air Lines’ CEO, Ed Bastian, said,


“Investing in a world-class partner like WestJet aligns our interests and ensures that we remain focused on providing a world-class global network and customer experience for travelers in the United States and Canada.  Together, Delta and our airline partners are connecting the world and transforming the future of travel.”


Also commenting on the decision to take an equity stake in WestJet, Korean Air and Hanjin Group’s Chairman and CEO, Walter Cho, said,


“We are pleased to invest in WestJet as part of our continued commitment to enhancing transpacific connectivity.  This strategic partnership will enhance our global network and create long-term value for customers through greater choice and convenience.”


Onex Partners’ Co-Head, Tawfiq Popatia, added,


“Delta, Korean and Air France-KLM are among the world’s most prominent and best-managed airlines. Onex is delighted to welcome them as shareholders in WestJet.”


Further commenting on the new partnerships with Delta and Korean Air, WestJet’s CEO, Alexis von Hoensbroech, said,


“These investments, and the enhanced partnerships they bring, are an endorsement of our people and WestJet's differentiated performance through an extraordinary period for aviation in recent years.”


Upon closing of the transaction, Delta has the right and intent to sell and transfer a 2.3 percent stake in WestJet to their Joint Venture Partner, Air France-KLM, also an existing WestJet partner, in exchange for US $50 million, subject to approvals.  The Onex Group will continue to own and control Calgary, Alberta-based WestJet.



Source(s): WestJet, Delta Air Lines

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