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Delta buys stake in Virgin Atlantic
 
Delta passengers can now forgo "SkyMall" and satisfy their in-flight shopping needs on Amazon.com.
Delta passengers can now forgo "SkyMall" and satisfy their in-flight shopping needs on Amazon.com.
CC BY: Andrei Dimofte

Delta 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.

 

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