Korean Air acquires $217m WestJet stake

Korean Air acquires $217m WestJet stake – Aviation Business News

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Korean Air has announced it has acquired a 11.02% stake in WestJet’s parent companies, Kestrel Topco Inc. and Kestrel Holdings Inc, through an investment of $217m. This investment represents a 10% equity stake in Canada’s second-largest airline.

Walter Cho, Chairman and CEO of Hanjin Group and Korean Air, has also been appointed to WestJet’s Board of Directors. Board members also include other global aviation leaders such as Benjamin Smith, CEO of Air France-KLM, and Alex Cruz, former Chairman and CEO of British Airways.

In addition to his ongoing role as a key leader on the International Air Transport Association (IATA)’s Board of Governors since 2019, Walter Cho’s appointment is expected to support future benefits for travelers and contribute to the sustainable growth of the global aviation industry.

The investment marks the importance of the Canadian aviation market, which was valued at $33bn in 2024 and ranked among the world’s top ten, with double-digit growth since 2019.

Building on its ongoing integration with Asiana Airlines, Korean Air will continue to pursue diverse partnerships across the aviation market.

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