Business
Business

Delta confirms acquisition of stake in Virgin Atlantic

By
Dec 11, 2012

Delta Air Lines has confirmed it has reached a deal to buy a 49 percent stake in Virgin Atlantic Airways and strike a joint venture with the carrier.

Atlanta-based Delta said it plans to invest $360 million in Virgin Atlantic to buy the minority percent stake currently held by Singapore Airlines, while Virgin Group and Richard Branson will continue to hold a 51 percent stake

For travelers, the deal between the two airlines would offer access to more flights between North America and the United Kingdom. The carriers will cooperate on nine daily roundtrip flights from London Heathrow to New York’s John F. Kennedy International and Newark Liberty airports. The two airlines have a combined total of 31 daily flights between the U.K. and North America.

The airlines are filing an application for antitrust immunity from the U.S. Department of Transportation for the joint venture, which will also be reviewed by the Justice Department and the EU. If it is approved, the deal is expected to take effect by the end of 2013.

About the Author

As business team lead, Kelly Yamanouchi edits and writes business stories. She graduated from Harvard and has a master's degree from Northwestern.

Follow Kelly Yamanouchi on facebookFollow Kelly Yamanouchi on twitter
More Stories

Keep Reading

Co-founder and president of the newly formed Georgia Skyline Bank, Ryan C. Floyd, was a SVP at The Piedmont Bank. (Courtesy of Georgia Skyline Bank)

Credit: sour

Why a metro Atlanta investor group is starting a new bank

A group of longtime community bankers is attempting to start Georgia Skyline Bank, based in Roswell.

Grants from the Fox Theatre will help renovate venues across Georgia

The grant money doesn’t come from donations or through fundraising. It comes from ticket revenues generated by shows at the Fox Theatre in Atlanta.

Atlanta’s short-term rentals are starting to fill up for the World Cup

Airbnb is predicting about 6,000 guests will stay with Atlanta hosts during the World Cup, representing about 45,000 guest nights.

The Latest

A new kind of hybrid, called e-Power, is coming to the U.S. from Nissan. Courtesy of Nissan

Credit: Courtesy of Nissan

OPINION

Nissan’s e-Power: An EV driving experience, fueled by gas

OPINION

December car sales are good but not magic

In the market for a luxury vehicle? You might reconsider Lincoln.

Featured

Jo'wan Bellamy taught in the GNETS program for 17 years and recently transferred to Atlanta’s new behavioral program at Crawford Long Middle School. (Arvin Temkar/AJC)

Credit: arvin.temkar@ajc.com

Georgia districts forge their own way as troubled program faces a crossroads

School districts are dropping out of GNETS to serve students with emotional and behavioral disabilities.

Ex-Truett McConnell VP indicted in case tied to sex abuse probe

A White County grand jury has indicted a former Truett McConnell University vice president, accusing him of lying to a county sheriff investigator.

Dickens asks top donors for $250K to help fund inauguration events

Atlanta Mayor Andre Dickens is soliciting up to $250,000 from top donors to sponsor three days of events celebrating his second-term inauguration.