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 approval of the Franco-Dutch airline group. ONEX Group will remain the…

Source: ch aviation
Read more: Delta and Korean Air to buy 25% stake in Canada's WestJet