US Stock Market Move | Delta Air Lines, Inc. (DAL.US) rose more than 7% after jointly acquiring a 25% stake in WestJet Airlines with Korean Air.

On Monday, Delta Air Lines, Inc. (DAL.US) rose more than 7% to $52.06. In terms of news, Delta Air Lines, Inc. and Korean Air recently announced that they will jointly acquire a 25% minority stake in Canadian Westjet Airlines to deepen their partnership. In this transaction, Delta Air Lines, Inc. will invest $330 million to acquire 15% of the shares, while Korean Air will invest $220 million to acquire 10% of the shares. The selling shareholders are Canadian investors and funds under Onex Partners. After the transaction is completed, Delta Air Lines, Inc. plans to transfer 2.3% of the shares to its joint venture partner Air France-KLM for $50 million. This move aims to strengthen the route synergy in North America and Asia for all parties involved.