CALGARY — WestJet has announced the completion of a major equity transaction that sees Delta Air Lines, Korean Air and Air France-KLM acquire a combined 25% equity stake in the Canadian carrier from Onex Partners and its affiliated funds and co-investors.

The sale, first announced in May 2025, officially closed on Oct. 22, 2025. Under the terms of the agreement, Delta Air Lines acquired a 15% minority equity stake and Korean Air took a 10% share. Upon closing, and as initially announced, Delta sold and transferred a 2.3% stake in WestJet to its joint venture partner, Air France-KLM. The final ownership breakdown now stands at Delta Air Lines with 12.7%, Korean Air with 10%, and Air France-KLM with 2.3%.

Following the transaction, Onex Partners and its affiliated investors will continue to own and control WestJet, retaining 75% of their original investment in the airline.

“Our new partners are widely regarded as among the best-performing and most innovative airlines in the world,” said Tawfiq Popatia, Head of Onex Partners and Board Director at WestJet. “This investment has created a terrific amount of value for Onex Partners and its investors to date, including through the unprecedented headwinds posed by the pandemic. We look forward to building on this track record for all of WestJet’s investors, both new and continuing.”

Alexis von Hoensbroech, Chief Executive Officer of the WestJet Group, said the partnership represents a significant step forward for the airline. “This closing marks a milestone in our airline partnerships, building on existing relationships and reflecting confidence in WestJet’s strategy, performance, and people,” he said. “We are proud to welcome our new airline shareholders and look forward to further strengthening our partnerships with their airlines to create long-term value for guests.”