Centara

Published on Wednesday, May 16, 2018

Air-France KLM, Delta and Virgin finalise joint venture




Air France-KLM, Virgin Atlantic and Delta Air Lines have~finalised the deal for their~transatlantic joint venture, first announced in July last year.

Air France-KLM~has now acquired 31% of Virgin and Delta has taken a 10% stake in Air France-KLM.

The deal will now be put forward for regulatory approval.

"Upon completion, Air France-KLM will acquire a 31% stake in Virgin Atlantic currently held by Virgin Group for £220 million ($298.6 million). Virgin Group will retain a 20% stake and chairmanship of Virgin Atlantic. Delta will retain its 49% [Virgin Atlantic] stake," the three airlines said in a statement.

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

Delta will retain its 49% shareholding of Virgin Atlantic while Virgin Group will retain its 20% stake.

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