Delta Air Lines leads consortium that includes Korean Air and Air France-KLM in completed purchase of 25% stake in Canadian carrier, marking latest international expansion for U.S. airline.
Three major airlines completed a minority investment in Canadian carrier WestJet on Wednesday, splitting a 25% stake in the company valued at around $550 million.
Delta Air Lines, Korean Air and Air France-KLM finalized the purchase of shares in WestJet, with Onex Partners confirming completion of the sale first announced in May 2025.
Under the agreement, Delta purchased a 15% minority equity stake before transferring 2.3% to Air France-KLM, leaving the U.S. carrier with 12.7%. Korean Air acquired a 10% stake in the Calgary-based airline.
The deal saw Delta pay approximately $330 million for its initial 15% stake, while Korean Air paid around $220 million for its 10% share, according to the May announcement.
“Our new partners are widely regarded as among the best-performing and most innovative airlines in the world,” said Tawfiq Popatia, Head of Onex Partners and Board Director at WestJet. “This investment has created a terrific amount of value for Onex Partners and its investors to date, including through the unprecedented headwinds posed by the pandemic. We look forward to building on this track record for all of WestJet’s investors, both new and continuing.”
The transaction represents the latest in a series of international equity investments by Delta, which has taken stakes in Air France-KLM, LATAM, Aeromexico, Virgin Atlantic, China Eastern and Korean Air’s parent company, Hanjin KAL.
The Onex Group, which includes Onex Partners, will continue to own and control WestJet with a 75% stake.
“This closing marks a milestone in our airline partnerships, building on existing relationships and reflecting confidence in WestJet’s strategy, performance, and people,” said Alexis von Hoensbroech, CEO of WestJet. “We are proud to welcome our new airline shareholders and look forward to further strengthening our partnerships with their airlines to create long-term value for guests.”
Key Takeaways
- Delta Air Lines, Korean Air and Air France-KLM completed a $550 million purchase of 25% of WestJet, with Delta holding 12.7%, Air France-KLM 2.3%, and Korean Air 10%.
- The transaction closed Wednesday after being announced in May 2025, with Onex Partners retaining 75% ownership and control of the Canadian carrier.
- Delta’s WestJet investment extends its global partnership portfolio that includes equity stakes in Air France-KLM, LATAM, Aeromexico, Virgin Atlantic and China Eastern.
