Delta buys 49 percent stake in Virgin Atlantic - New York News

Delta buys 49 percent stake in Virgin Atlantic

Posted: Updated:

By JOSHUA FREED

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.

 

Copyright 2012 The Associated Press.

  • Queens NewsQueens NewsMore>>

  • Community celebrates renovated Queens Library branch damaged by Sandy

    Community celebrates renovated Queens Library branch damaged by Sandy

    Friday, April 18 2014 4:57 PM EDT2014-04-18 20:57:15 GMT
    It's been nearly a year and a half since Superstorm Sandy tore through the Queens Library Arverne branch in the Rockaways. Now it is back in business.Sandy left behind 4 feet of water. A massive renovation -- gutting, cleaning, repainting, rewiring -- was needed to get everything back up to speed. The library, which reopened March 18, is a vital part of the community.
    It's been nearly a year and a half since Superstorm Sandy tore through the Queens Library Arverne branch in the Rockaways. Now it is back in business.Sandy left behind 4 feet of water. A massive renovation -- gutting, cleaning, repainting, rewiring -- was needed to get everything back up to speed. The library, which reopened March 18, is a vital part of the community.
  • Christians around world mark Good Friday

    Christians around world mark Good Friday

    Friday, April 18 2014 1:34 PM EDT2014-04-18 17:34:50 GMT
    From the Holy Land to the streets of New York City, Christians have commemorated the crucifixion of Jesus Christ in Good Friday prayers and processions. Thousands of Christian pilgrims filled the cobblestone alleyways of the Old City on Friday along the Via Dolorosa, Latin for the "Way of Suffering." In NYC, Timothy Cardinal Dolan and Bishop Nicholas DiMarzio lead followers across the Brooklyn Bridge.
    From the Holy Land to the streets of New York City, Christians have commemorated the crucifixion of Jesus Christ in Good Friday prayers and processions. Thousands of Christian pilgrims filled the cobblestone alleyways of the Old City on Friday along the Via Dolorosa, Latin for the "Way of Suffering." In NYC, Timothy Cardinal Dolan and Bishop Nicholas DiMarzio lead followers across the Brooklyn Bridge.
  • Cabbie accused of not paying $28,000 in tolls

    NY cabbie accused of not paying $28,000 in tolls

    Friday, April 18 2014 10:32 AM EDT2014-04-18 14:32:20 GMT
    A New York City taxi driver has been arrested on charges he stole $28,000 in tolls by "piggybacking" on vehicles through E-Z Pass lanes while crossing the Robert F. Kennedy Bridge.
    A New York City taxi driver has been arrested on charges he stole $28,000 in tolls by "piggybacking" on vehicles through E-Z Pass lanes while crossing the Robert F. Kennedy Bridge.
  • Local NewsLocal NewsMore>>

  • Community celebrates renovated Queens Library branch damaged by Sandy

    Community celebrates renovated Queens Library branch damaged by Sandy

    Friday, April 18 2014 4:57 PM EDT2014-04-18 20:57:15 GMT
    It's been nearly a year and a half since Superstorm Sandy tore through the Queens Library Arverne branch in the Rockaways. Now it is back in business.Sandy left behind 4 feet of water. A massive renovation -- gutting, cleaning, repainting, rewiring -- was needed to get everything back up to speed. The library, which reopened March 18, is a vital part of the community.
    It's been nearly a year and a half since Superstorm Sandy tore through the Queens Library Arverne branch in the Rockaways. Now it is back in business.Sandy left behind 4 feet of water. A massive renovation -- gutting, cleaning, repainting, rewiring -- was needed to get everything back up to speed. The library, which reopened March 18, is a vital part of the community.
  • NYPD identifies woman wanted for baby snatch attempt

    NYPD: Woman tried to snatch baby in stroller

    Friday, April 18 2014 4:36 PM EDT2014-04-18 20:36:31 GMT
    Police want to question a woman who tried to push a stroller with a baby inside away from a nanny in Chelsea. The incident occurred on 8th Ave. and 17th St. at about 4 p.m. on Thursday. The 8-month-old baby was not harmed. People who were in the area jumped in to stop the woman before she took off southbound on 8th Ave., according to police. A sketch was released on Friday of the suspect.

    Police are looking for a woman who tried to push a stroller with a baby inside away from a nanny in Chelsea. Police have identified the suspect as Tara Anne McDonald, 46. The attempted kidnapping occurred on 8th Ave. and 17th St. at about 3:45 p.m. on Thursday, police said. People who were in the area jumped in to stop McDonald before she took off southbound on 8th Ave., according to police.


  • Basil farm ready to switch to marijuana

    Basil farm ready to switch to marijuana

    Friday, April 18 2014 4:11 PM EDT2014-04-18 20:11:50 GMT
    Basil plants grow on a New Jersey farm, but the facility could be turned into a five-acre medical marijuana greenhouse with only 48 hours' notice. The hoses from the state-of-the-art Dutch hydroponic system are watering flowers now, but with a few minor adjustments could just as easily grow marijuana plants for medicinal cannabis. The only reason it's not happening now is because the company is publicly traded and subject to federal law.
    Basil plants grow on a New Jersey farm, but the facility could be turned into a five-acre medical marijuana greenhouse with only 48 hours' notice. The hoses from the state-of-the-art Dutch hydroponic system are watering flowers now, but with a few minor adjustments could just as easily grow marijuana plants for medicinal cannabis. The only reason it's not happening now is because the company is publicly traded and subject to federal law.
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