Air France-KLM, Delta Air Lines and Virgin Atlantic strengthen transatlantic partnership

Eleanor Steed
By Eleanor Steed May 15, 2018 15:00

Air France-KLM, Delta Air Lines and Virgin Atlantic strengthen transatlantic partnership

Air France-KLM, Delta Air Lines and Virgin Atlantic have signed definitive agreements paving the way forward for their expanded trans-Atlantic joint venture.

The Joint Venture Agreement signed between Air France-KLM, Delta and Virgin Atlantic sets out the governance as well as the commercial and operational terms of the expanded trans-Atlantic Joint Venture.

Upon completion, Air France-KLM will acquire a 31 per cent stake in Virgin Atlantic currently held by Virgin Group for £220 million.

Virgin Group will retain a 20 per cent stake and Chairmanship of Virgin Atlantic.

Delta will retain its 49 per cent stake.

Air France-KLM, Delta and Virgin Atlantic will now coordinate efforts to secure the appropriate regulatory approvals.

The signed agreements are all subject to regulatory approvals.

Eleanor Steed
By Eleanor Steed May 15, 2018 15:00