PARIS/ NEW YORK, July 27- Delta Air Lines, Air France-KLM and Virgin Atlantic unveiled plans on Thursday to combine two overlapping transatlantic joint-ventures, supported by equity deals worth $1 billion, as airlines brace for more competition. The new 15- year partnership combines existing joint-ventures between firstly Air France-KLM, Delta and Alitalia,...
PARIS, July 27- Delta Air Lines, Air France-KLM and Virgin Atlantic unveiled plans on Thursday to combine two overlapping transatlantic joint-ventures, cemented by $1 billion of equity deals as airlines brace for competition and wider consolidation. The transatlantic partnership combines existing joint-ventures between firstly Air France-KLM, Delta...
LONDON— Richard Branson is selling his majority stake in Virgin Atlantic. The billionaire entrepreneur's Virgin group announced Thursday that he was selling a 31 percent stake to Air France-KLM for 220 million pounds. Meanwhile, Delta and China Eastern will take a 10 percent stake each in Air France-KLM by buying shares in a 751 million euro capital increase.
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Chief Executive Craig Kreeger put the impact on profits of Britain's decision to leave the European Union at around 50 million pounds after the carrier reported a 2 percent increase in underlying pretax profit for 2016 to 23 million pounds. Virgin Atlantic, which is owned by founder Richard Branson's Virgin Group with 51 percent and U.S. carrier Delta Air...
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