Onex Corp. is selling minority stakes in Calgary-based WestJet to Delta Air Lines and Korean Air for a total of $550 million U.S.
Under the deals announced Friday, Delta will acquire a 15 per cent stake in the Calgary-based airline for US$330 million, while Korean Air will buy a 10 per cent stake for $220 million U.S.
After the deal closes, Delta plans to sell a 2.3 per cent stake in WestJet to its joint venture partner Air France-KLM for $50 million U.S.
Onex acquired WestJet in 2019.
“Delta, Korean and Air France-KLM are among the world’s most prominent and best-managed airlines,” Tawfiq Popatia, co-head of Onex Partners, said in a statement.
Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
“Onex is delighted to welcome them as shareholders in WestJet.”
WestJet and Delta have been partners since February 2011, and Korean Air and WestJet have partnered since June 2012.
“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 travellers in the United States and Canada,” Delta CEO Ed Bastian said.
Delta, Korean Air, KLM and Air France are members of the SkyTeam Airline Alliance. Air Canada is a member of the rival Star Alliance network.
“This strategic partnership will enhance our global network and create long-term value for customers through greater choice and convenience,” said Walter Cho, chairman and CEO of Korean Air and Hanjin Group.
© 2025 The Canadian Press
For an inflation-adjusted perspective on retail sales, take a look at our Real Retail Sales commentary. Here…
blinking-dotLive updatesLive updates, Iran’s Foreign Minister Abbas Araghchi said Iranians will ‘not bow down’, warning…
Manitoba health officials are sounding the alarm over an ongoing hepatitis A outbreak that’s worsened…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Crypto analyst…
Descrease article font size Increase article font size Health officials are warning the public about…
Four of the industry’s most prominent leaders gathered at the Goldman Sachs RIA Professional Investor…