Delta, Korean Air to buy 25% stake in WestJet from Onex

Delta Air Lines and Korean Air are buying a combined 25% stake in WestJet from Onex for $550 million USD, with Delta acquiring 15% and Korean Air 10%.

Delta will later sell part of its stake to Air France-KLM.

The move deepens existing partnerships among SkyTeam alliance members but raises questions about potential operational changes and the impact on competition, CBC News has reported.

While the deal complies with Canadian ownership laws, experts say it likely won’t change Canada’s already concentrated airline industry, which has faced criticism over high fares and reduced competition.

read more: https://www.cbc.ca/news/business/delta-korean-air-westjet-onex-1.7530830

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