DELTA, AIR FRANCE-KLM, VIRGIN ATLANTIC JOINT VENTURE
Delta will invest €375 million to acquire ten per cent equity in the Air France-KLM Group. In addition, Delta will be on the latter’s Board of Directors. Air France-KLM will invest 31 per cent in Virgin Atlantic in which Delta already has a 49 per cent stake. Since 2009, Delta has a joint venture with Air France-KLM. Alitalia was added in 2010. In 2012, Delta and Virgin Australia launched a joint venture. Virgin Atlantic was added in 2013 and Delta also took 49 per cent stake in the Richard Branson promoted British carrier. The Atlanta-based carrier has been steadily expanding its global footprint via a series of joint ventures, marketing agreements and investments. Expanding beyond Europe, in 2015, Delta took a 3.5 per cent stake in China Eastern Airline and entered into an enhanced marketing arrangement with the latter who is also a member of the SkyTeam alliance. A similar cooperation agreement and a 49 per cent stake in AeroMexico was done in 2017. The same year Delta also announced a joint venture with Korean Air Lines, another SkyTeam member. Delta also holds a 9.5 per cent equity stake in Brazilian carrier GOL.