Onex Partners Finalizes Sale of 25% Stake in WestJet to Delta, Korean Air, and Air France-KLM
Onex Partners announced the completion of the sale of a 25% equity stake in WestJet to Delta Air Lines, Korean Air, and Air France-KLM. The transaction, which was announced on May 9, 2025, and closed today, October 22, 2025, marks a new chapter in the Canadian airline’s international expansion and the strengthening of its strategic alliances.
Transaction Details
According to the terms of the agreement, Delta Air Lines acquired a 15% minority stake in WestJet, while Korean Air purchased an additional 10%. Following the closing, Delta transferred a 2.3% stake to its Joint Venture partner, Air France-KLM.
Consequently, the stakes are now distributed as follows:
- Delta Air Lines: 12.7%
- Korean Air: 10%
- Air France-KLM: 2.3%
→ WestJet Invests in Enhancing Onboard Experience with Major Cabin Reconfiguration
The Onex Group, which includes Onex Partners, its affiliated funds, and co-investors, retains control of WestJet with the remaining 75% of its original investment.
Statements and Strategic Vision
Tawfiq Popatia, a Managing Director at Onex Partners and a member of the WestJet Board of Directors, highlighted the value generated by the investment, even in the face of challenges presented by the pandemic.
“Our new partners are widely recognized as some of the most innovative and best-performing airlines in the world. This investment has created tremendous value for Onex Partners and its investors to date. We look forward to continuing to build on this track record of success for all of WestJet’s shareholders, both new and existing,” stated Popatia.
For his part, Alexis von Hoensbroech, Chief Executive Officer of the WestJet Group, indicated that this transaction reinforces the new partners’ confidence in the company’s strategy and performance.
“This closing marks a milestone in our airline partnerships, solidifying existing relationships and reflecting confidence in WestJet’s strategy, performance, and talent. We are proud to welcome our new shareholders and to strengthen our alliances to create long-term value for our guests,” expressed von Hoensbroech.
A Key Step in WestJet’s Global Expansion
The entry of Delta, Korean Air, and Air France-KLM as shareholder partners reinforces WestJet’s position in the international market and expands opportunities for cooperation within global alliances and Joint Ventures. This strategic move underscores the Canadian airline’s commitment to innovation, connectivity, and generating sustainable value for its customers and shareholders.
Related Topics
Wingo to Suspend Direct Flights Between Bogotá and San José, Costa Rica
Flybondi to Operate Record Number of Flights to Brazil During 2025/26 Southern Summer Season
Avianca to Increase Flights Between Bogotá and Córdoba Starting in December
LATAM Brasil Boosts Connectivity in September with 14% Capacity Increase and New Routes
Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.