Friday, July 11, 2014

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Delta Buys $360M Stake In Virgin Atlantic

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TWC News: Delta Buys $360M Stake In Virgin Atlantic
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Delta Airlines has purchased a piece of the British airline Virgin Atlantic in a deal worth $360 million.

It will give Delta a prominent stake in the New York to London market, as well as increase its landing rights at London's Heathrow Airport.

Both airlines will share the profits.

The deal still needs approval from regulators both here and in Europe.

Delta hopes to have the joint venture up and running by the end of next year.

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