Photo: Korean Air

Korean Air, Delta to Acquire Minority Stakes in WestJet

Our Bureau - : May 9, 2025 - : 7:33 pm

Korean Air and Delta Air Lines will acquire minority stakes in Canadian carrier WestJet, further deepening their respective partnerships with the airline. The equity investments, purchased from Onex Partners—the private equity arm of Canadian asset manager Onex—are aimed at enhancing...

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Under the agreement, Delta will invest US$330 million for a 15% stake in WestJet, while Korean Air will acquire a 10% stake for US$220 million. Combined, the two carriers will hold a 25% share in the Calgary-based airline.

Following the transaction’s close, Delta intends to transfer a 2.3% stake in WestJet to its joint venture partner Air France-KLM for US$50 million, subject to necessary approvals. Despite the new shareholders, the Onex Group will retain ownership and control of WestJet.

Korean and Delta have each maintained long-standing codeshare agreements with WestJet—since 2012 and 2011 respectively—providing seamless travel options across the Pacific and the U.S.-Canada border. The new equity arrangements are expected to strengthen these ties and offer expanded benefits to travellers.

“We are pleased to invest in WestJet as part of our continued commitment to enhancing transpacific connectivity,” said Walter Cho, Chairman and CEO of Korean Air and Hanjin Group. “This strategic partnership will enhance our global network and create long-term value for customers through greater choice and convenience.”

“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,” said Delta CEO Ed Bastian.

“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,” added Tawfiq Popatia, Co-Head of Onex Partners.

“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,” said Alexis von Hoensbroech, CEO of WestJet.

Barclays is advising WestJet and Onex on the transaction, which remains subject to regulatory approval.

Korean-air / Westjet / Delta-air-lines /

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