WestJet Deal Closes with Foreign Partners

Delta Air Lines, Korean Air and Air France-KLM each officially hold stakes in WestJet. The deal to sell 25 percent of Canada’s second-largest airline was announced in May 2025, and closed yesterday, on Oct. 22, 2025.

Onex Partners, the private equity arm of investment powerhouse Onex Group, sold the shares. Delta purchased 15 percent, then sold 2.3% to Air France-KLM and Korean Air purchased ten percent. Onex Group will continue to control 75 percent of 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."

WestJet has partnered with Delta, Korean and Air France-KLM on code share agreements, but the new ownership structure marks an interesting change. "This closing marks a milestone in our airline partnerships, building on existing relationships and reflecting confidence in WestJet's strategy, performance, and people," said Alexis von Hoensbroech, Chief Executive Officer of the WestJet Group. "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."

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