Delta and Korean Air invest in WestJet, with Air France-KLM poised for gains
By:
Pilotcenter.net
Delta Air Lines and Korean Air have recently acquired minority stakes in Canada's beloved carrier, WestJet, in a strategic move that promises exciting benefits for travelers worldwide. While maintaining a longstanding partnership, both global carriers have sealed the deal to collectively own 25% equity in WestJet, with Delta securing a 15% share for $330 million and Korean Air grabbing a 10% slice for $220 million.
Excitement filled the air as representatives from Delta and Korean Air expressed their optimism for the future of this collaboration. "Investing in a world-class partner like WestJet aligns our interests and ensures that we remain focused on providing a world-class global network and customer experience," shared Delta CEO Ed Bastian. He continued, "Together, Delta and our airline partners are connecting the world and transforming the future of travel."
Building on their already established codeshare partnerships with WestJet, both Delta and Korean Air are looking forward to expanding their horizons. Walter Cho, Chairman and CEO of Korean Air, shared his enthusiasm, stating, "We are pleased to invest in WestJet as part of our continued commitment to enhancing transpacific connectivity." This strategic move is geared towards enhancing their global network and providing customers with greater choices and convenience in their travel experiences.
The positive news didn't stop there. Delta also solidified its intentions to further boost its partnership lineup by retaining the right to transfer a 2.3% stake in WestJet to its joint venture partner Air France-KLM. This move, in exchange for $50 million, further demonstrates the airlines' concerted effort to provide exceptional services and connectivity for travelers in the United States and Canada.
Representing WestJet, CEO Alexis von Hoensbroech expressed gratitude for the newfound collaborations. "These investments, and the enhanced partnerships they bring, are an endorsement of our people and WestJet’s exceptional performance during recent turbulent times in the aviation industry," he stated.
With these strategic investments and partnerships in place, the skies are looking even friendlier for travelers as airlines come together to create seamless global travel experiences.
