Air France-KLM, Delta and Virgin plan transatlantic JV

Air France-KLM, Delta Air Lines and Virgin Atlantic are moving to create a new transatlantic joint venture triad that includes Air France-KLM acquiring a 31% stake in Virgin and Delta taking a 10% stake in Air France-KLM. The complex transactions, announced Thursday, would see Air France-KLM buy Virgin Group’s 31% stake in Virgin Atlantic for around GBP220m (US$287m), Air France-KLM said. Meanwhile, Delta, which owns 49% of Virgin Atlantic and has a transatlantic JV with the UK airline, plans to buy a 10% stake in Air France-KLM, at around E375m ($437m) and the 3 airlines will seek regulatory approval for a new transatlantic JV. Additionally, China Eastern Airlines will also take a 10% stake in Air France-KLM. <br/>