Delta buys 49 percent stake in Virgin Atlantic - Los Angeles Local News, Weather, and Traffic

Delta buys 49 percent stake in Virgin Atlantic

Posted: Updated:
  • More Money News

  • Tuesday, June 18 2013 4:23 PM EDT2013-06-18 20:23:01 GMT
    Southeast Ford Dealers are teaming up with Operation Gratitude to "drive" for members of the military, and you can be a part of it.
    Southeast Ford Dealers are teaming up with Operation Gratitude to "drive" for members of the military, and you can be a part of it.
  • Tuesday, June 18 2013 5:56 AM EDT2013-06-18 09:56:03 GMT
    Eager to cash in on the recent run of good news about the Stock Market, but you don't know how to get started? Here's how!
    Eager to cash in on the recent run of good news about the Stock Market, but you don't know how to get started? Good Day Atlanta goes to the pros for answers!
  • Monday, June 17 2013 12:05 AM EDT2013-06-17 04:05:45 GMT
    The loyalty cards on customer's key chains may be going out of fashion making way for the loyalty apps. There is a new one that has hit Atlanta called Front Flip.
    The loyalty cards on customer's key chains may be going out of fashion making way for the loyalty apps. There is a new one that has hit Atlanta called Front Flip.

Delta Air Lines Inc. is buying almost half of British airline Virgin Atlantic for $360 million as it aims to boost its share of the lucrative New York-to-London market.

Delta says it will form a joint venture with Virgin Atlantic, where the two airlines would share money from the flights operated under the partnership.

Sir Richard Branson will still own more than half of Virgin Atlantic, which will continue to fly as a separate airline under its own name.

Landing rights at London's Heathrow Airport are limited. So buying part of Virgin Atlantic will help Delta get a bigger piece of the travel market there.

The joint venture needs approval from U.S. and European regulators. Delta is aiming to have the joint operation running by the end of 2013.

 

Copyright 2012 The Associated Press

Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2013 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices