The asset manager is selling a 15% stake to Delta and 10% to Korean Air Lines in deal that positions WestJet for additional international growth

Onex Corp. has sold a minority stake in WestJet to Delta Air Lines and Korean Air in a US$550-million deal that aims to position the Calgary-based airline for growth abroad amid intensifying domestic competition and plummeting demand for flights to the U.

Delta Air Lines and Korean Air Lines will acquire an aggregate 25% stake in Canada's WestJet Airlines for $550 million from private equity firm Onex Corp , the U.S. carrier said on Friday.