Delta Air Lines and Korean Air are set to acquire a combined 25% stake in WestJet from Onex for $550 million in total. Delta will take 15% for $330 million, while Korean Air will cover 10% for $220 million. Delta subsequently plans to sell a portion of its stake to Air France-KLM. The partnership aims to enhance global networks and customer experiences for travelers, although potential operational changes remain uncertain. Analysts note that while this strengthens ties among established airlines, the impact on flyers is yet to be determined.
Delta, Korean and Air France-KLM are among the world's most prominent and best-managed airlines, which Onex is delighted to welcome as shareholders in WestJet.
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.
This strategic partnership will enhance our global network and create long-term value for customers through greater choice and convenience.
It's unclear whether the deal is just a financial arrangement or if it will lead to operational changes.
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