Foley Advises Delta Air Lines on Investment in WestJet

Foley & Lardner LLP served as legal advisor to Delta Air Lines Inc. (NYSE: DAL) in its acquisition of a minority equity interest in Canadian airline WestJet Airlines Ltd. from Onex Partners and affiliated funds (Onex Group).

The transaction was announced on May 9, 2025 and closed on October 22, 2025.  Under the terms of the agreements, Delta Air Lines acquired a 15% minority equity stake in WestJet from the Onex Group, with Korean Air acquiring a further 10%. Upon closing, Delta Air Lines sold and transferred a 2.3% stake in WestJet to its joint venture partner Air France-KLM.

Delta and WestJet have been partners since February 2011, offering customers on both sides of the U.S-Canada border an expanded global network and seamless travel options.

The Foley transactions team was led by partners Ben Rikkers, Jeff Atkin, and Raj Tanden with support from associates Kate Foley and Tallie Fote.