Delta Air Lines and Korean Air will acquire a 25% stake in WestJet Airlines.
Delta Air Lines will acquire 15% and Korean Air will acquire 10% of the shares from Onex Partners and related funds and co-investors, for a total of 550 million USD.
Additionally, Delta Air Lines has the right to sell and transfer 2.3% of the acquired shares to Air France-KLM, with whom they have a joint venture, for 50 million USD, subject to approval by Air France-KLM.
Onex Group will continue to own and manage WestJet Airlines. Delta Air Lines and Korean Air will enhance their partnership through the acquisition of the minority stake. Delta Air Lines has been in a code-sharing agreement since February 2011, and Korean Air since June 2012.
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