Friday 28 June 2013

Delta Air Lines acquires 49% stake in Virgin Atlantic

Aviation Nigeria

United States carrier, Delta Airlines, has acquired a 49 per cent stake in the United Kingdom’s Virgin Atlantic Airlines founded by British airline mogul, Sir Richard Branson.

An unconditional merger clearance was granted by the European Commission and the US Department of Justice closed their review of the transaction, giving Delta complete acquisition of a 49 per cent stake in Virgin Atlantic.

According to a statement from the airlines’ offices in Nigeria, the developments mark the next step towards a full joint venture between the two carriers.

In the statement, Virgin Atlantic’s Chief Executive Officer, Mr. Craig Kreeger, stated that:

“Today is an important day for Virgin Atlantic and our customers in both the US and UK as new shareholders in the airline, Delta is an important ally in the all-important trans-Atlantic market. We can stand firm together against the competition and can now offer more destinations, a smoother connecting airport experience and ultimately the best trans-Atlantic on board experience."

The statement also added that Delta and Virgin Atlantic have also commenced a code-share agreement across 108 routes, offering passengers seamless connections to 66 destinations across North America and the UK.

The two airlines announced their intention to enter into a joint venture agreement in December 2012.


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