Delta buys 49 percent stake in Virgin Atlantic - FOX 10 News | myfoxphoenix.com

Delta buys 49 percent stake in Virgin Atlantic

Posted: Updated:

By JOSHUA FREED

Delta Air Lines Inc. is buying almost half of British airline Virgin Atlantic for $360 million as it aims to boost its share of the lucrative New York-to-London market.

Delta says it will form a joint venture with Virgin Atlantic, where the two airlines would share money from the flights operated under the partnership.

Sir Richard Branson will still own more than half of Virgin Atlantic, which will continue to fly as a separate airline under its own name.

Landing rights at London's Heathrow Airport are limited. So buying part of Virgin Atlantic will help Delta get a bigger piece of the travel market there.

The joint venture needs approval from U.S. and European regulators. Delta is aiming to have the joint operation running by the end of 2013.

 

Copyright 2012 The Associated Press.

  • Queens NewsQueens NewsMore>>

  • Summit at City Hall on police-community relations

    Summit at City Hall on police-community relations

    Thursday, July 31 2014 11:06 AM EDT2014-07-31 15:06:56 GMT
    Ways to improve the relationship between the NYPD and communities in New York City is at the center of a summit being held on Thursday. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders are attending the round table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
    Ways to improve the relationship between the NYPD and communities in New York City is at the center of a summit being held on Thursday. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders are attending the round table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
  • Animation genius of Chuck Jones on display at Museum of the Moving Image

    Animation genius of Chuck Jones on display at Museum of the Moving Image

    Wednesday, July 30 2014 7:35 PM EDT2014-07-30 23:35:59 GMT
    Chuck Jones -- the genius artist, animator, and director who created Elmer Fudd and Bugs Bunny and many more -- is the subject of a new exhibition at Museum of the Moving Image in Queens. "What's Up, Doc? The Animation Art of Chuck Jones" runs from July 19, 2014, through January 19, 2015.
    Chuck Jones -- the genius artist, animator, and director who created Elmer Fudd and Bugs Bunny and many more -- is the subject of a new exhibition at Museum of the Moving Image in Queens. "What's Up, Doc? The Animation Art of Chuck Jones" runs from July 19, 2014, through January 19, 2015.
  • NYC subway report card

    NYC subway report card

    Wednesday, July 30 2014 5:09 PM EDT2014-07-30 21:09:16 GMT
    "A mixed bag": That's how the Straphangers Campaign characterizes New York City subways; some good parts and some bad. For example, the C train breaks down most often, not surprising since the line has 50-year-old cars. But C trains were also the cleanest in the transit system.Straphangers said the worst subway trains were the IRT's No. 2.
    "A mixed bag": That's how the Straphangers Campaign characterizes New York City subways; some good parts and some bad. For example, the C train breaks down most often, not surprising since the line has 50-year-old cars. But C trains were also the cleanest in the transit system.Straphangers said the worst subway trains were the IRT's No. 2.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices