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Delta Air Lines Inc And Virgin Atlantic Airways Ltd Announces Strategic Alliance


Tuesday, 11 Dec 2012 08:01am EST 

Delta Air Lines Inc and Virgin Atlantic Airways Ltd. announced that have reached an agreement for a new joint venture that will create an expanded trans-Atlantic network and enhance competition between the U.K. and North America, offering greater benefits for customers traveling on those routes. As part of this joint venture agreement, Delta will invest $360 million in Virgin Atlantic, acquiring a 49% stake currently held by Singapore Airlines. Virgin Group and Sir Richard Branson will retain the majority 51% stake and Virgin Atlantic Airways will retain brand and operating certificate. 

Company Quote

40.93
1.35 +3.41%
2 Sep 2014