Delta Air Lines (DAL) and Korean Air said Friday that they will acquire a combined 25% equity stake in Canadian carrier WestJet from Onex Partners.
The companies said Delta will invest $330 million for a 15% stake, while Korean Air will pay $220 million for 10%.
Delta also plans to sell a 2.3% stake to Air France-KLM for $50 million, the companies said, adding the move would strengthen their long-standing partnerships.
The deal is subject to regulatory approval.
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