Delta Air Lines to buy stake in Virgin Atlantic - New York News

Delta Air Lines to buy stake in Virgin Atlantic

Posted: Updated:

By JOSHUA FREED
AP Airlines Writer

Delta Air Lines Inc. is buying almost half of British airline Virgin Atlantic for $360 million as it aims to boost its share of the lucrative New York-to-London market.

Delta says it will form a joint venture with Virgin Atlantic, where the two airlines would share money from the flights operated under the partnership.

Sir Richard Branson will still own more than half of Virgin Atlantic, which will continue to fly as a separate airline under its own name.

Landing rights at London's Heathrow Airport are limited. So buying part of Virgin Atlantic will help Delta get a bigger piece of the travel market there.

The joint venture needs approval from U.S. and European regulators. Delta is aiming to have the joint operation running by the end of 2013.

  • Local NewsLocal NewsMore>>

  • Summit at City Hall on police-community relations

    Summit at City Hall on police-community relations

    Thursday, July 31 2014 1:20 PM EDT2014-07-31 17:20:15 GMT
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
  • Workers trapped in trench collapse

    Workers trapped in trench collapse

    Thursday, July 31 2014 1:19 PM EDT2014-07-31 17:19:38 GMT
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
  • Woman plunges to death over cliff in Catskills

    Woman plunges to death over cliff in Catskills

    Thursday, July 31 2014 12:57 PM EDT2014-07-31 16:57:07 GMT
    New York State NewsNew York State News
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
  • Local NewsLocal NewsMore>>

  • Evan Reed arraigned on sexual assault charges

    Evan Reed arraigned on sexual assault charges

    Thursday, July 31 2014 12:42 PM EDT2014-07-31 16:42:51 GMT
    Minor league pitcher Evan Reed has been arraigned on charges of sexually assaulting a woman at a downtown Detroit hotel.
    Minor league pitcher Evan Reed has been arraigned on charges of sexually assaulting a woman at a downtown Detroit hotel.
  • Two in custody on drug charges after search connected to Armada teen's murder

    Two in custody on drug charges after search connected to Armada teen's murder

    Thursday, July 31 2014 12:17 PM EDT2014-07-31 16:17:30 GMT
    The FBI and state police were at a home on Marquette Road in Goodells, Mich. most of Wednesday executing an investigative search warrant related to the murder of 14-year-old April Millsap.
    The FBI and state police were at a home on Marquette Road in Goodells, Mich. most of Wednesday executing an investigative search warrant related to the murder of 14-year-old April Millsap.
  • 24-year-old women is $66 million jackpot winner

    24-year-old women is $66 million jackpot winner

    Thursday, July 31 2014 11:26 AM EDT2014-07-31 15:26:09 GMT
    The Michigan Lottery says a Port Huron woman is the winner of a $66 million Mega Millions jackpot that was drawn in mid-June.Kelsey Zachow says in a statement that she "could barely breathe" when she learned she was the winner.
    The Michigan Lottery says a Port Huron woman is the winner of a $66 million Mega Millions jackpot that was drawn in mid-June.Kelsey Zachow says in a statement that she "could barely breathe" when she learned she was the winner.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices