SkyTeam members Air France, Delta Air Lines and China Eastern Airlines have completed a series of share transactions aimed at strengthening their strategic partnership.

Under the agreement, which was originally announced July 27, China Eastern and Atlanta-based Delta are each taking a 10% stake in Air France-KLM, which will in turn acquire 31% of UK-based long-haul carrier Virgin Atlantic.

“Each of China Eastern Airlines and Delta Air Lines now holds 10% of Air France-KLM’s share capital and has consequently one director representing it at Air France-KLM’s board of directors,” Air France said in a statement.

Over 75 million new Air France-KLM shares have been admitted to the Euronext Paris and Amsterdam stock exchanges, injecting €751 million ($893 million) into Air France-KLM.

“This operation is an integral part of the Trust Together project, allowing Air France-KLM to regain the offensive, to reinforce its commercial integration with its principal partners and to continue improving its financial structure,” Air France-KLM said.

Victoria Moores victoria.moores@penton.com