Investment fund Onex Partners has completed the sale of a 25% stake in WestJet Airlines.
It sold 15% to Delta Air Lines and 10% to Korean Air for USD 550 million. In addition, Delta Air Lines sold a 2.3% stake to Air France-KLM.
The Onex Group will continue to hold 75% of WestJet’s shares and remain in charge of management. Delta Air Lines and Korean Air will strengthen their partnership through the acquisition of minority stakes. Delta Air Lines has had a codeshare agreement with WestJet since February 2011, and Korean Air since June 2012.
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