Korean Air has announced the acquisition of an 11% stake in the parent companies of Canada-based WestJet.
Korean Air has announced the acquisition of an 11% stake in the parent companies of Canada-based WestJet.
Through an investment of USD $217 million (~KRW 312.19 billion), Korean Air is acquiring the 11.02% stake in Kestrel Topco Inc., and Kestrel Holdings Inc. Together, the investment represents a 10% equity stake in WestJet.
The transaction – first agreed upon on May 9, 2025 – has now been completed. Along with Korean Air, Delta Air Lines and Air France-KLM are also investing in WestJet's parent companies.
As part of the acquisition, the Chairman and CEO of Hanjin Group and Korean Air – Walter Cho – has also been appointed to WestJet's Board of Directors. Board members also include Benjamin Smith, CEO of Air France-KLM, and Alex Cruz, former Chairman and CEO of British Airways.
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