Delta Air Lines and Korean Air will pay a combined $550 million in exchange for stakes in Canada’s WestJet, the three companies announced in a joint statement on Friday.
Delta, headquartered in Georgia, will invest $330 million to acquire a 15% stake in the Calgary-based carrier, while Korean Air will commit $220 million to acquire a 10% stake. The partnership will increase connectivity between each airline’s existing international routes, which are focused…