Delta Air Lines to buy 49% of Virgin Atlantic; carriers to form JV

Courtesy, Delta Air Lines Delta Air Lines will spend $360 million to acquire Singapore Airlines’ 49% stake in Virgin Atlantic Airways. As part of the deal, Delta and Virgin Atlantic will launch a transatlantic joint venture (JV). “Virgin Group and [chairman] Sir Richard Branson will retain the majority 51% stake and Virgin Atlantic Airways will retain its brand and operating certificate,” Delta and Virgin Atlantic said in a joint statement. The JV will operate on ...