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