elta Air Lines said Tuesday that it was buying Singapore Airlines' 49 percent stake in Virgin Atlantic for $360 million, in a deal that is expected to boost its share of the lucrative New York to London route. Delta hopes by 2013 to start a trans-Atlantic joint venture that, if approved by regulators in the U.S. and Europe, will give it access to hard-to-get landing slots at London's Heathrow airport, a hub for coveted corporate travelers. The airlines will continue to fly under their old names, but they will share revenue. Singapore Airlines bought its stake in Virgin 12 years ago for a far heftier price, but the investment proved disappointing.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 31 TV shows to watch in 2014
- The sexual politics of Game of Thrones just got enormously worse
- The hidden reason for the student loan crisis
- He said he was leaving. She ignored him.
- Why atheism doesn't have the upper hand over religion
- 7 ways to quickly become a master at anything
- 14 wonderful words with no English equivalent
- Mad Men recap: 'A Day's Work'
- Why Easter is so important to Christians
- What would a U.S.-Russia war look like?
Subscribe to the Week