Delta, Korean Air, and Air France-KLM complete acquisition of minority stake in WestJet

Delta Air Lines, Korean Air, and Air France-KLM have finalized the acquisition of a combined 25% stake in WestJet, with the transaction closing on October 22.

The deal gives Delta a 12.7% share, Korean Air 10%, and Air France-KLM 2.3%. Onex Partners and co-investors continue to hold a 75% majority in the Canadian carrier.

Delta Air Lines and Korean Air have announced a joint investment of $550 million to acquire a combined 25% stake in WestJet in May.

The transaction follows several years of discussions among the SkyTeam members, aiming to deepen commercial ties with WestJet. The investment is intended to support broader cooperation, while WestJet remains outside the SkyTeam alliance.

Delta initially acquired a 15% interest, later transferring 2.3% to Air France-KLM. Korean Air’s 10% stake is valued at approximately $217 million, according to industry estimates. The carriers have had codeshare agreements with WestJet prior to the equity acquisition.

Walter Cho, CEO of Korean Air, and Ben Smith, CEO of Air France-KLM, have joined WestJet’s board of directors as part of the governance structure following the deal. Their appointments reinforce the carriers’ intent to play an active role in WestJet’s strategic direction.

The partners had been exploring joint ventures, including potential transpacific and North American cooperation with Delta and a transatlantic venture with Air France-KLM. Further commercial integration or alliance membership for WestJet has not been announced.

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