Delta, Korean Air buy 25% of WestJet in $714.2 million deal
Delta, Korean Air to Buy Stakes in WestJet For $550 Million $DAL https://t.co/pww267lYXu
Delta and Korean Air buy stake in WestJet in $550 million deal amid shaky Canada-US travel https://t.co/drIlIzZRpv
Onex Corp., the owner of Canadian airline WestJet, is selling a 25% minority stake in the carrier to Delta Air Lines Inc. and Korean Air Lines Co. The deal, valued between US$550 million and C$714.2 million, reflects ongoing consolidation in the global airline industry. Industry experts suggest that Onex's sale could indicate its intention to exit the airline business entirely. The transaction comes amid uncertain travel conditions between Canada and the United States.
