Overview
- Onex confirmed the deal closed on October 22, setting final holdings at Delta 12.7%, Korean Air 10%, and Air France-KLM 2.3%.
- WestJet and Onex described the transaction value at about US$550 million, with Onex retaining 75% ownership and control.
- Korean Air completed a US$217 million investment in WestJet’s parent entities corresponding to a 10% stake, and CEO Walter Cho joined WestJet’s board.
- Delta initially acquired 15% and then transferred 2.3% to Air France-KLM at closing, aligning the three partners under a coordinated minority ownership.
- The companies say the partnership will deepen route feed and customer benefits across transborder, transatlantic and transpacific markets while WestJet remains independently managed in Calgary.