Delta, Korean Air Invest $550M in WestJet Partnership
Delta Air Lines and Korean Air have each taken minority equity stakes in Canadian carrier WestJet, with Air France-KLM poised to join the ownership group. The two global airlines confirmed on May 9, 2025, that Delta will invest $330 million for a 15 percent share, while Korean Air will pay $220 million for a 10 percent stake. In addition, Delta retains rights to transfer 2.3 percent of its new WestJet holdings to joint-venture partner Air France-KLM in exchange for $50 million, further deepening WestJet’s ties to Europe.
The transactions mark a major vote of confidence in WestJet, whose shares are being sold by private equity firm Onex. “These investments build on each airline’s existing relationship with WestJet to provide further benefits to customers in North America, Europe, Asia and beyond,” the two carriers said in a joint statement. Onex leadership welcomed the new shareholders, with co-head Tawfiq Popatia describing the deal as an exciting next chapter for the airline.
WestJet CEO Alexis von Hoensbroech praised the move as validation of the carrier’s performance and growth potential. “This endorsement of our people and WestJet’s differentiated performance comes at a pivotal time for aviation,” he said, noting that the fresh capital and strategic alignment will help WestJet expand its global network and enhance the travel experience for passengers in Canada and abroad.
For Delta, the investment follows a broader strategy of forging deep partnerships through equity stakes and joint ventures. In recent years Delta has taken minority positions in Air France-KLM, LATAM Airlines, Aeroméxico, Virgin Atlantic, China Eastern and parent company Hanjin KAL. Delta CEO Ed Bastian said the WestJet deal aligns with the airline’s mission to connect key markets and deliver seamless service. “Investing in a world-class partner like WestJet aligns our interests and ensures we remain focused on providing a world-class global network and customer experience for travelers in the United States and Canada,” he said.
Korean Air has been WestJet’s codeshare partner since 2018, when the two carriers launched a transpacific joint venture with Delta on routes between Asia and North America. Walter Cho, Korean Air’s chairman and CEO, described the equity purchase as a natural extension of that partnership. “This strategic investment will enhance our global network and create long-term value for customers through greater choice and convenience,” he said, underscoring the move’s importance for strengthening transpacific and intercontinental connectivity.
Air France-KLM, which already partners with WestJet on North American routes, stands to receive Delta’s 2.3 percent stake as part of the broader deal. By embedding itself in WestJet’s ownership structure, Air France-KLM will gain a stronger foothold in the Canadian market and reinforce its transatlantic joint-venture offerings.
WestJet currently operates a fleet of more than 200 aircraft serving over 100 destinations across Canada, the United States, Europe, Asia and Mexico. With the new capital, the airline plans to accelerate its fleet modernization, expand narrow-body capacity and invest in premium seating and digital enhancements. Observers say that the injection of funds and expertise from three major global airlines will position WestJet to better compete against Air Canada and low-cost rivals in a market that is rebounding strongly from the pandemic.
As the aviation industry continues to consolidate and forge cross-border partnerships, WestJet’s new shareholders signal a shift toward deeper collaboration between traditional network carriers and innovative, growth-oriented airlines. The combined Delta, Korean Air and Air France-KLM stakes total 25 percent of WestJet, creating one of the most international ownership groups in the Canadian aviation sector and opening the door for future joint ventures and expanded codeshare services worldwide.
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