Delta and Korean Air to buy 25% stake in Canada's WestJet

Delta and Korean Air to buy 25% stake in Canada's WestJet

Delta Air Lines and Korean Air will acquire a combined minority stake of 25% in WestJet (WS, Calgary) from ONEX Group for a total of USD550 million. The American company is set to purchase a 15% stake for USD330 million, while the Korean carrier will buy 10% of WestJet's shares in exchange for USD220 million. Upon closing the transaction, Delta Air Lines plans to sell a 2.3% stake in WestJet to Air France-KLM for USD50 million, subject to the ap…

WestJet changes: Partial sale, Sunwing, points, portal, Canadian Tire - Flytrippers

There was major news in Canada’s aviation world Friday: WestJet, the country’s 2nd largest airline, sold a 25% stake to major global players. This comes in addition to several other major recent changes at WestJet: Sunwing integration, new WestJet points, new online shopping portal, and even a new partnership with Canadian Tire! That’s a lot, […]

Delta and Korean to buy 25% stake in WestJet for US$550 Million

Delta Air Lines and Korean Air will deepen their respective partnerships with WestJet by acquiring minority equity stakes in the Canadian airline from Onex Partners, a Canadian investment and alternative asset management firm. Affiliated funds and co-investors of the Onex Group are also expected to participate in the sale alongside Onex Partners. These investments build on each airline's existing relationship with WestJet, aiming to deliver furt…

The Councillor Delegate of Tourism and Promotion of the City, Jacobo Florido, has announced that next October, Korean Air will carry out a direct pilot connection in Malaga and Seoul, action that will come to reinforce the international projection of the destination and its opening to the Korean market. The initiative, which will consist of four charter flights to and from Korea, 8 in total, between the South Korean capital and Malaga throughout…

WESTJET GETS INTERNATIONAL BACKING

WestJet is getting a major boost from international investors. Delta Air Lines and Korean Air have purchased a combined 25% stake in the Calgary-based airline, while majority ownership stays with Canadian firm Onex. The move comes during what WestJet calls a transition year. Demand for U.S. routes has declined due to trade tensions and economic uncertainty, prompting the airline to reduce some transborder flights. Meanwhile, travel to Europe and…

Korean Air and Delta buying stakes in WestJet - Asian Aviation

Korean Air and Delta Air Lines will strengthen their respective partnerships with WestJet through the purchase of minority equity stakes in the Canadian airline from Onex Partners, the upper middle market private equity platform of Onex, a Canadian investor and alternative asset manager. Affiliated funds and co-investors of the Onex Group intend to participate in the sale alongside Onex Partners. These investments build on each airline’s existin…