Onex selling minority stakes in WestJet to Delta and Korean Air

Onex Corp. has sold a minority stake in WestJet to Delta Air Lines and Korean Air in a US$550-million deal that aims to position the Calgary-based airline for growth abroad amid intensifying domestic competition and plummeting demand for flights to the U.S.
Under the deals announced Friday, Delta will acquire a 15 per cent stake in WestJet for US$330 million, while Korean Air will buy a 10 per cent stake for US$220 million.
After the agreement closes, Delta plans to sell a 2.3 per cent stake in