Korean Air has acquired a 11.02% stake in WestJet's parent companies, Kestrel Topco Inc. and Kestrel Holdings Inc, through an investment of US$217 million.

This investment represents a 10% equity stake in WestJet, Canada's second-largest airline.

In the announcement, the South Korean flag carrier said 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. 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. 

Korean Air noted that the investment underscores the growing importance of the Canadian aviation market, which was valued at US$33 billion 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 strategic partnerships across the global aviation market to broaden customer choice, enhance convenience, and reinforce its position as a leading global airline," the carrier said.