Delta Air Lines and Korean Air are acquiring independent equity stakes in Canadian airline WestJet, amounting to a combined 25 percent ownership for $550 million.?

Delta will invest $330 million into its 15 percent stake in WestJet, while Korean Air is investing $220 million into its 10 percent stake. The acquisition is subject to regulatory approval.

Once the deal is complete, Delta has plans to sell and transfer a 2.3 percent stake in WestJet to Air France-KLM, its Joint Venture partner, in exchange for $50 million.?

WestJet is owned by Onex Group, a Canadian investor and alternative asset manager. It will continue to control the airline, which has its headquarters in Calgary.?

Delta has been a codeshare partner with WestJet since 2011, offering easy connections between the United States and Canada. Korean Air has been a codeshare partner since 2012, offering greater transpacific connectivity between Eastern Asia and Canada.?

¡°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 for travelers in the United States and Canada,¡± said Delta CEO Ed Bastian. ¡°Together, Delta and our airline partners are connecting the world and transforming the future of travel.¡±

Delta has made several investments into Air France-KM, LATAM, Virgin Atlantic and even Korean Air¡¯s parent company, Hanjin KAL, among other airlines, in recent years.?

"These investments, and the enhanced partnerships they bring, are an endorsement of our people and WestJet¡¯s differentiated performance through an extraordinary period for aviation in recent years," said WestJet CEO Alexis von Hoensbroech.

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