Delta and Korean Air to Acquire 25% Stake in WestJet

ONEX Corporation ( (TSE:ONEX) ) has shared an announcement.

Delta Air Lines and Korean Air have announced plans to strengthen their partnerships with WestJet by acquiring a combined 25% equity stake in the Canadian airline from Onex Partners. This strategic move aims to enhance connectivity and customer benefits across North America, Europe, and Asia, while maintaining Onex Group’s control over WestJet. The investment reflects Delta and Korean’s commitment to expanding their global networks and providing seamless travel experiences, further solidifying their positions in the aviation industry.

Spark’s Take on TSE:ONEX Stock

According to Spark, TipRanks’ AI Analyst, TSE:ONEX is a Neutral.

ONEX Corporation’s overall score reflects a stable balance sheet with moderate valuation. While earnings call optimism and corporate events show positive momentum, income volatility and inconsistent cash flow generation are significant risks. The technical indicators suggest caution, with potential resistance at the 200-day moving average.

To see Spark’s full report on TSE:ONEX stock, click here.

More about ONEX Corporation

Average Trading Volume: 168,164

Technical Sentiment Signal: Hold

Current Market Cap: C$6.9B

For an in-depth examination of ONEX stock, go to TipRanks’ Stock Analysis page.