Onex Sells WestJet to Delta, Korean Air
This is a Calgary news story, published by calgaryherald, that relates primarily to Alexis von Hoensbroech news.
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•Business
Business & Economics
Varcoe: Major international airlines buy stake in WestJet, amid 'transition year' for Calgary-based airline
70% Informative
U.S. giant Delta Air Lines is buying 15 per cent of Calgary -based WestJet for US$330 million .
Korean Air is acquiring a 10 per cent stake for $220 million .
The deal will still see Onex , one of the country’s largest private equity players, retain 75 per cent .
WestJet CEO Alexis von Hoensbroech says transborder traffic has slowed amid trade tensions.
Robert Kokonis , president of AirTrav Inc. , a Toronto -based aviation consultancy, said airlines globally are feeling the effect of trade battles and shifting travel traffic patterns this year .
The uncertainty for the sector comes after some turbulence for WestJet last year , which included the company’s first strike and a major hailstorm that hit Calgary .
VR Score
75
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75
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44
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semi-formal
Language
English
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45
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Attention-grabbing headline
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Time-value
short-lived
External references
7
Source diversity
5