Onex to sell WestJet stakes to Delta and Korean Air

Goodmans LLP is advising WestJet Airlines Ltd. and its controlling shareholder, Onex Corporation, in the sale of Onex’s minority stakes in WestJet to Delta Air Lines and Korean Air.

Pursuant to the terms of agreement, Delta will acquire a 15 per cent stake in WestJet, while Korean Air will buy a 10 per cent stake. After the deal closes, Delta plans to sell a 2.3 per cent stake in WestJet to its joint venture partner Air France-KLM. The Onex Group will continue to own and control Calgary, Alberta-based WestJet.

WestJet is a leading airline in Canada, headquartered in Alberta. Delta, Korean Air, KLM and Air France are members of the SkyTeam Airline Alliance.

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