Delta Air Lines and Korean Air have both acquired minority shares in Canadian carrier WestJet, with Air France-KLM also set to benefit from the investment.
The two global carriers, who have a long-standing partnership, confirmed that they will take equity stakes totaling 25% in WestJet, with Delta paying $330 million for 15% and Korean Air investing $220 million in exchange for 10%.
“These investments build on each airline’s existing relationship with WestJet to provide further benefits to customers in North America, Europe, Asia and beyond,” both airlines said in a statement on May 9, 2025.
The shares are being purchased from private equity firm and WestJet owner, Onex. Following the announcement, Co-Head of Onex Partners Tawfiq Popatia said he was “delighted” to be welcoming the airlines as shareholders.
As part of the agreement, Delta retains the right and intent to sell and transfer a 2.3% stake in WestJet to its joint venture partner Air France-KLM, also an existing WestJet partner, in exchange for $50 million.
“Investing in a world-class partner like WestJet aligns our interests and ensures that we remain focused on providing a world-class global network and customer experience for travelers in the United States and Canada,” said Delta CEO Ed Bastian.
He added: “Together, Delta and our airline partners are connecting the world and transforming the future of travel.”
Delta and Korean Air have each been codeshare partners with WestJet for years while Delta and Korean Air launched a joint venture partnership on transpacific routes on May 1, 2018.
“We are pleased to invest in WestJet as part of our continued commitment to enhancing transpacific connectivity,” said Walter Cho, Chairman and CEO of Korean Air. “This strategic partnership will enhance our global network and create long-term value for customers through greater choice and convenience.”
Delta has made equity investments with several international partners, including Air France-KLM, LATAM, Aeromexico, Virgin Atlantic, China Eastern and Korean Air’s parent company, Hanjin KAL.
“These investments, and the enhanced partnerships they bring, are an endorsement of our people and WestJet’s differentiated performance through an extraordinary period for aviation in recent years,” said WestJet CEO Alexis von Hoensbroech.
