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Delta Gets OK to Buy Virgin Atlantic Stake

Delta increases its presence in transatlantic flights


Delta Air Lines (DAL) has earned the OK from the U.S. Justice Department on its joint venture with Virgin Atlantic Airways.

“The facts and circumstances did not warrant further investigation or action,” the Justice Department explained in an email to Bloomberg.

“Delta is pleased with today’s decisions by the DOJ and European Commission approving full merger clearance for the proposed transaction,” said Delta spokesman Anthony Black.

The Delta purchase of 49% of Virgin Airlines took place in December of last year. The two firms have been waiting for this approval, though both agreed the purchase was going through with or without consent for the joint venture.

The joint venture gives a major boost to Delta, which will jump from controlling 9% of the seats from New York to Heathrow to 36% of the seats.

The agreement also will help Virgin Atlantic, which has been struggling financially.

Article printed from InvestorPlace Media,

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