Can a Deal With Virgin Help Delta Attract New Customers?

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

delta plane

The European Commission approved a proposed joint venture between Delta Airlines (NYSE:DAL) and Virgin Atlantic, clearing the last hurdle in a deal announced in December.

According to the terms of the deal, Delta will purchase a 49 percent minority share from Singapore Air in Virgin Atlantic, while the Virgin Group retains its 51 percent stake, reports The Wall Street Journal.

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!

“We have announced a joint venture with Delta which will create an expanded transatlantic network,” Virgin said on their website. “By combining the strengths of our two companies in a joint venture, we can better serve customers travelling between North America and the U.K. and continue building a better airline for our employees, shareholders, and most importantly our customers.”

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business