Delta Establish Partnership with Virgin Atlantic

Delta Airlines (DAL) further confirmed its position as one of the largest airlines United States (U.S.) to acquire 49% stake in Virgin Atlantic. Delta to buy stake in Virgin Singapore Airlines worth a total of $ 360 million joint venture also marks the birth of a new flight route for the North Atlantic region.

In a statement, Delta Airlines claimed that the acquisition does not just mean in terms of business. But the joint venture with Virgin will give them immunity from anti-trust U.S. Department of Transportation. The process of settlement is expected to be completed in late 2013, after appearing approval from the European Union and U.S. Department of Justice.

The founder of Virgin Atlantic, Richard Branson, will still be the majority shareholder with 51% ownership share. The acquisition of the new shares will increase the international reach Delta, which is now recognized as the largest U.S. airline in terms of the two flight distance. The joint venture also opened access for Delta to get your own space at London's Heathrow airport as well as gain access to Europe and Asia destination.

"Our new partnership with Virgin will strengthen both companies and enhance the competitiveness of the British-American aviation industry, especially for New York-London route," explained Delta CEO, Richard Anderson. Delta's stock price closed at $ 10.66 a gain of 5.13% on Tuesday (11/12).

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