» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 242 | Wednesday, December 12, 2012

Delta Buys Stake in Virgin Atlantic

JOSHUA FREED | Associated Press

Print | Front Page | Email this story | Comments ()

Delta Air Lines said it will buy almost half of Virgin Atlantic for $360 million as it tries to catch up to rivals in the lucrative New York-to-London travel market.

Delta plans to form a joint venture with Virgin Atlantic so they can sell seats on each other’s flights, share the costs and profits, and set the flight schedules in ways that help both airlines. American Airlines has a similar deal with British Airways.

Because Delta would be setting fares and schedules in coordination with an airline it used to compete with, it said it will need antitrust approval from U.S. and European regulators in order to form a joint venture.

Delta is aiming to have the joint operation running by the end of 2013.

Buckingham Research analyst Daniel McKenzie wrote that Delta needed to fix its shortfall of London flights in order to win more business travelers.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.