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

victoria@aviationnews-online.com
By victoria@aviationnews-online.com 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.

victoria@aviationnews-online.com
By victoria@aviationnews-online.com May 15, 2018 15:00