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Delta Air Lines and Korean Air are each taking a stake in Canadian carrier WestJet for a total of $550 million.
The two airlines have agreed to acquire independent equity shareholdings totalling 25% in WestJet, which operates a fleet of almost 200 aircraft.
Delta will be investing $330 million and acquiring a 15% shareholding and Korean Air $220 million in exchange for a 10% stake.
Delta “has the right and intent” to sell and transfer a 2.3% stake in WestJet to its joint…
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