After announcing a proposed sale of shares in the company earlier this year, WestJet revealed that a deal has now closed that will see U.S. and Asian airlines picking up a considerable share.
Delta Air Lines, Korean Air and Air France-KLM all picked up shares, with Delta, based in the United States, picking up the most considerable number, amounting to a 15 per cent minority stake before transferring a portion of its shares. Korean Air comes out of the deal with a 10 per cent stake.
Onex Partners and WestJet announced the news earlier today.
“Upon closing, and as initially announced, Delta Air Lines sold and transferred a 2.3 per cent stake in WestJet to its Joint Venture partner Air France-KLM. As a result, the respective stakes of the partners stand as follows: Delta Air Lines: 12.7 p