Onex Corp. is selling minority stakes in Calgary-based WestJet to Delta Air Lines and Korean Air for a total of $550 million U.S.
Under the deals announced Friday, Delta will acquire a 15 per cent stake in the Calgary-based airline for US$330 million, while Korean Air will buy a 10 per cent stake for $220 million U.S.
After the deal closes, Delta plans to sell a 2.3 per cent stake in WestJet to its joint venture partner Air France-KLM for $50 million U.S.
Rick Erickson, a Calgary-based…