Air France-KLM acquires 31% stake in Virgin Atlantic

Jul 28, 2017 No Comments by

The Air France-KLM Group announced on Thursday 27 July 2017 they would acquire a 31 percent stake in Virgin Atlantic. The deal is worth around GBP 220 million. The Franco-Dutch group plans on investing around “over $1 billion of equity transactions with other airlines in what it described as a move to become the European pillar of an enhanced global network.” (Reuters)

The deal will also involve the creation of a single joint services agreement adding to the existing AF-KL/Delta trans-Atlantic services alliance.

Air France-KLM will become the second largest share holders in Virgin Atlantic after Delta Air Lines which has a 49 percent stake.

Furhermore both Delta Air Lines and China Eastern Airlines each acuired a ten percent stake in the Air France-KLM Group through the acquistion of new shares.

 

 

 

Air France/KLM, Airline News, China Southern, Delta Airlines, Virgin Atlantic

About the author

The person behind Airline Hub Buzz is a veteran having worked across a broad range of organisations in the industry. AHB's formal qualifications included a Bachelor of Business (Honours) (majors in Marketing, Management and Tourism Management) as well as a Master of Science and Technology (Aviation Management)...PhD in an Aviation related field soon.
Comments are closed.