Onex selling minority stakes in WestJet to Delta and Korean Air

The Canadian Press

· Posted: May 09, 2025 7:53 AM EDT | Last Updated: 6 minutes ago

Onex Corp. is selling number stakes successful WestJet to Delta Air Lines and Korean Air for a full of $550 cardinal US.

Under the deals announced Friday, Delta volition get a 15 per cent involvement successful the Calgary-based hose for $330 cardinal US, portion Korean Air volition bargain a 10 per cent involvement for $220 cardinal US.

After the woody closes, Delta plans to merchantability a 2.3 per cent involvement successful WestJet to its associated task spouse Air France-KLM for $50 cardinal US.

Onex acquired WestJet successful 2019.

"Delta, Korean and Air France-KLM are among the world's astir salient and best-managed airlines," Tawfiq Popatia, co-head of Onex Partners, said successful a statement.

"Onex is delighted to invited them arsenic shareholders successful WestJet."

WestJet and Delta person been partners since February 2011, and Korean Air and WestJet person partnered since June 2012.

"Investing successful a world-class spouse similar WestJet aligns our interests and ensures that we stay focused connected providing a world-class planetary web and lawsuit acquisition for travellers successful 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 simply a subordinate of the rival Star Alliance network.

"This strategical concern volition heighten our planetary web and make semipermanent worth for customers done greater prime and convenience," said Walter Cho, president and CEO of Korean Air and Hanjin Group.