Virgin Atlantic, Air France-KLM and Delta Air Lines have today signed definitive agreements paving the way forward for their expanded trans-Atlantic joint-venture.
Upon completion, Virgin Group will sell to Air France-KLM a 31 per cent stake in Virgin Atlantic for £220 million. Virgin Group will retain a 20 per cent stake and Chairmanship of Virgin Atlantic and Delta will retain its 49 per cent stake (the joint venture agreement and share sale are conditional upon the appropriate regulatory approvals). Virgin Atlantic will retain its independence as a UK airline with a UK operating certificate, and will continue to fly under our fantastic Virgin brand.
The airlines’ expanded joint venture will become the preferred choice for customers travelling across the Atlantic offering the most comprehensive route network, convenient flight schedules, competitive fares and reciprocal frequent flyer benefits, including the ability to earn and redeem miles across all carriers. Customers will also benefit from the co-location of facilities at key hub airports to improve connectivity and access to each carrier’s airport lounges for premium passengers. Head to the Virgin Atlantic website to find out more.