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Korean Air acquires 10% equity stake in Canada’s WestJet
October 24th 2025
Korean Air (KAL) announced it has acquired an 11.02% stake in WestJet’s parent companies, Kestrel Topco and Kestrel Holdings. Read More » The investment, valued US$217 million, represents a 10% equity stake in WestJet, Canada’s second-largest airline. The transaction, first agreed upon on May 9, 2025, has now been completed, with Delta Air Lines and Air France-KLM also investing in WestJet’s parent companies. Walter Cho, Chairman and CEO of Hanjin Group and Korean Air, has also been appointed to WestJet’s Board of Directors, along with other global aviation leaders such as Benjamin Smith, CEO of Air France-KLM, and Alex Cruz, former Chairman and CEO of British Airways. KAL said the investment underscores the growing importance of the Canadian aviation market, which was valued at USD 33 billion in 2024 and ranked among the world’s top ten, with double-digit growth since 2019.
