Tourexpi
Delta
will invest $330 million for a 15% stake, while Korean Air will acquire a 10%
stake for $220 million, purchasing shares from Onex Partners and its affiliated
funds.
The
move is aimed at enhancing connectivity between Canada, North America, Europe,
and Asia, while also providing more seamless travel options for customers.
Delta plans to transfer a 2.3% stake to its Joint Venture partner Air
France-KLM for $50 million, pending approvals.
Delta
CEO Ed Bastian emphasized the strategic alignment, saying the investment
ensures a world-class global network. Korean Air CEO Walter Cho highlighted the
partnership’s potential to enhance transpacific connectivity and customer
value.
WestJet
CEO Alexis von Hoensbroech welcomed the investment as a testament to the
airline's performance during challenging times. The partnership, which builds
on longstanding codeshare agreements, is expected to deliver broader benefits
for international travelers.
The
transaction, advised by Barclays, remains subject to regulatory approval.
Image
Credit: © Delta Air Lines
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