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Korean Air buys 10 percent of Canada's WestJet to grow its North American business

Published: 23 Oct. 2025, 16:34

A Korean Air aircraft with a new logo takes off at the Incheon International Airport. [KOREAN AIR]

Korean Air Co. said Thursday it has completed a $217 million investment in the parent companies of WestJet, Canada's second-largest airline, as part of efforts to expand its network and presence in North America.

The investment in Kestrel Topco Inc. and Kestrel Holdings Inc. effectively gives Korean Air a 10 percent equity stake in WestJet. The transaction, first agreed to in May, was finalized this week, with Delta Air Lines and Air France-KLM also participating in the investment scheme.

As part of the deal, Hanjin Group Chairman Cho Won-tae has been appointed to WestJet's board of directors.

Korean Air said Cho's appointment, along with his role on the International Air Transport Association (IATA) board of governors since 2019, is expected to strengthen cooperation with global partners and provide greater benefits to travelers.

The investment highlights the growing importance of the Canadian aviation market, valued at $33 billion in 2024 and ranked among the world's top 10, recording double-digit growth annually since 2019.

Korean Air said it will continue to pursue global strategic partnerships, including through its integration with Asiana Airlines, to expand travel options and reinforce its competitiveness as a leading international carrier.

Yonhap