Air France-KLM, Delta Air Lines and Virgin Atlantic Limited have signed definitive agreements paving the way forward for their expanded trans-Atlantic joint venture:
The Joint Venture Agreement signed between Air France-KLM, Delta and Virgin Atlantic sets out the governance as well as the commercial and operational terms of the expanded trans-Atlantic Joint Venture.
Upon completion, Air France-KLM will acquire a 31% stake in Virgin Atlantic currently held by Virgin Group for £220 million. Virgin Group will retain a 20% stake and Chairmanship of Virgin Atlantic. Delta will retain its 49% stake.
Air France-KLM, Delta and Virgin Atlantic will now coordinate efforts to secure the appropriate regulatory approvals.
The signed agreements are all subject to regulatory approvals.Email Post to a Friend