Delta Air Lines of the United States and Korean Air of South Korea will jointly acquire a 25 percent stake in Canadian airline WestJet for a total of $550 million. Delta will acquire a 15 percent stake for $330 million, while Korean Air will purchase a 10 percent stake for $220 million. Delta also plans to resell 2,3 percent of its shares to Air France-KLM for $50 million upon completion of the transaction.
The agreement strengthens ties within the SkyTeam alliance, which includes Delta, Korean Air, and Air France-KLM. Onex Corporation, which acquired WestJet in 2019, remains the majority shareholder. Experts believe the transaction, which complies with Canadian ownership laws, will have no significant impact on the Canadian aviation market. It is viewed as a strategic step to strengthen their respective networks in North America, Europe, and Asia.
Delta and Korean Air's participation in WestJet builds on existing codeshare agreements between the three airlines. The collaboration is expected to offer travelers enhanced connections and travel options. Through the partnership, Korean Air plans to further expand its presence in North America and open new routes in Latin America by leveraging WestJet's network.
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