Air France-KLM completes acquisition of a 2.3% stake in WestJet

Rhea-AI Summary

Air France-KLM (OTC:AFLYY) completed the purchase of a 2.3% stake in WestJet on October 23, 2025. The stake was bought from Delta Air Lines and was first announced on May 9, 2025.

The transaction is part of a coordinated set of share purchases that closed on October 22–23, 2025, producing a 25% combined interest held by three airlines (Delta 12.7%, Korean Air 10%, Air France-KLM 2.3%), sold by funds and co-investors affiliated with Onex Partners, WestJet’s controlling shareholder. Air France-KLM and WestJet have partnered since 2009 with interline ticketing, later adding codeshares and reciprocal loyalty benefits.

Positive

• Acquired a 2.3% stake in WestJet on Oct 23, 2025
• Combined airline ownership totals 25% (Delta 12.7%, Korean Air 10%, Air France-KLM 2.3%)

Negative

• Minority 2.3% stake offers limited direct governance influence

Paris, October 23, 2025

Air France-KLM completes acquisition of a 2.3% stake in WestJet

Air France-KLM today announced that it has completed the acquisition of a 2.3% stake in Canadian carrier WestJet.

This transaction was initially announced on May 9^th, 2025.

Air France-KLM purchased that stake from its joint venture partner Delta Air Lines, which had taken a 15% minority stake in WestJet, as part of a previously announced separate transaction also involving Korean Air’s purchase of a 10% interest. That transaction closed yesterday, on October 22^nd, 2025.

The shares purchased by all three airlines represent a 25% combined interest (Delta Air Lines: 12.7%, Korean Air: 10% and Air France-KLM: 2.3%), sold by funds and co-investors affiliated with Onex Partners, a Canadian investor and alternative asset manager which is WestJet’s controlling shareholder. Link to WestJet press release here.

Air France-KLM has partnered with WestJet since 2009, with the launch of interline ticketing. Since that time, the partnership has grown to include code sharing and reciprocal benefits for loyalty members.

Investor Relations                                                        

Michiel Klinkers                        Marouane Mami                                                            

michiel.klinkers@airfranceklm.com        marouane.mami@airfranceklm.com

Website : www.airfranceklm.com

Attachment

• Air France-KLM completes acquisition of a 2.3% stake in WestJet

FAQ

What stake did Air France-KLM (AFLYY) acquire in WestJet and when?

Air France-KLM acquired a 2.3% stake in WestJet, completed on October 23, 2025.

How much combined ownership do airlines now hold in WestJet after the Oct 2025 transactions?

The three airlines together hold a 25% combined interest (Delta 12.7%, Korean Air 10%, Air France-KLM 2.3%).

From whom did Air France-KLM buy the WestJet shares?

Air France-KLM purchased the 2.3% stake from Delta Air Lines as part of the coordinated transactions sold by funds and co-investors affiliated with Onex Partners.

When was Air France-KLM's purchase of WestJet first announced?

The transaction was initially announced on May 9, 2025.

What is the history of the partnership between Air France-KLM and WestJet?

Air France-KLM and WestJet have partnered since 2009, starting with interline ticketing and later expanding to codeshares and reciprocal loyalty benefits.

Who can investors contact at Air France-KLM for questions about the WestJet stake?

Investor contacts listed are Michiel Klinkers and Marouane Mami with emails michiel.klinkers@airfranceklm.com and marouane.mami@airfranceklm.com.