Delta Air Lines and Korean Air will acquire a combined minority stake of 25% in WestJet (WS, Calgary) from ONEX Group for a total of USD550 million. The American company is set to purchase a 15% stake for USD330 million, while the Korean carrier will buy 10% of WestJet's shares in exchange for USD220 million.
On closing the transaction, Delta Air Lines plans to sell a 2.3% stake in WestJet to Air France-KLM for USD50 million, subject to the approval of the Franco-Dutch airline group. ONEX Group will remain the largest shareholder of the Calgary-based company and retain control of the airline.
Korean Air said in a stock market disclosure that it expected the transaction to close on July 9, 2025. The airline also revealed that the deal will proceed through an acquisition of new and existing shares of Kestrel Topco Inc. and Kestrel Holdings Inc., two Calgary-based special-purpose companies that own WestJet on behalf of ONEX Group.
WestJet, Delta Air Lines, Korean Air, and Air France-KLM aim to strengthen mutual cooperation and provide better connections between Canada and destinations in North America, Europe, and Asia. The agreement is subject to regulatory approvals.
According to the ch-aviation fleets module, WestJet currently operates 141 aircraft. The airline utilises thirty-eight B737-700s, forty-six B737-8s, forty-six B737-800s, four B737-800(BCF)s, and seven B787-9s. The company is expecting the delivery of fourteen B737-8s and forty-six B737-10s.
WestJet's regional subsidiary WestJet Encore (WR, Calgary) operates forty-three DHC-8-Q400s.
