Tue Dec 11, 2012, 02:57 PM
Omaha Steve (41,416 posts)
Delta buys 49 percent stake in Virgin Atlantic
By JOSHUA FREED
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 said the share purchase will happen with or without antitrust approval.
Delta is aiming to have the joint operation running by the end of 2013.
FULL story at link.
Read more: http://apnews.excite.com/article/20121211/DA33NA5O0.html
Delta Airlines CEO Richard Anderson speaks while Virgin Atlantic CCO Julie Southern listens during a news conference in New York, Tuesday, Dec. 11, 2012. 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. (AP Photo/Seth Wenig)
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Delta buys 49 percent stake in Virgin Atlantic (Original post)
|Omaha Steve||Dec 2012||OP|
Response to trumad (Reply #1)
Tue Dec 11, 2012, 04:51 PM
SoapBox (7,999 posts)
and, Delta and Virgin have a long history.
I have more of a problem with domestic consolidation...American and USAir (aka America West)? What a SUPER mess that will be.
Response to Omaha Steve (Original post)
Tue Dec 11, 2012, 07:45 PM
kimbutgar (1,434 posts)
3. I like virgin America but now I won't be using them anymore. Delta sucks and they treat their
Workers horribly. They are so anti union, contribute to Alec and Americans for taking away Americans prosperity. The CEO also attends the semi annual Koch anti worker meetings This is so sad virgin treats their employees rather well they will be in shock when they deltarized and dumped on.