New Industry Mindset, M&A Activity Bode Well for Delta (DAL) - Barron's
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Delta Air Lines (DAL) to Invest $360M for 49% of Virgin Atlantic
December 11, 2012 8:03 AM ESTDelta Air Lines (NYSE: DAL) and Virgin Atlantic Airways Ltd. have reached an agreement for a new joint venture that will create an expanded trans-Atlantic network and enhance competition between the U.K. and North America, offering greater benefits for customers traveling on those routes.
As part of this joint venture agreement, Delta will invest $360 million in Virgin Atlantic, acquiring a 49 percent stake currently held by Singapore Airlines. Virgin Group and Sir Richard Branson will retain the majority 51 percent stake and Virgin Atlantic Airways will retain its brand and operating certificate.
Highlights of the agreement include:
* A fully integrated joint venture that will operate on a "metal neutral" basis with both airlines sharing the costs and revenues from all joint venture flights.
* A combined trans-Atlantic network between the United Kingdom and North America with 31 peak-day round-trip... More
Delta's (DAL) Latest Pilot Agreement Pressures Competition
October 26, 2012 1:04 PM EDTDelta (NYSE: DAL) has taken advantage of problems at other legacy carriers to win more corporate business, according to analysts at Imperial Capital.
Its new pilot agreement traded higher wages for more regional jet flying flexibility. This allows DAL to greatly reduce 50-seat flying, which has proven... More
