Approval granted Delta buys Virgin Atlantic stake

first_imgDelta Air Lines has received European and US regulatory approval to purchase 49 percent of Virgin Atlantic.In December last year, Delta said it would purchase the 49 percent stake from Singapore Airlines for up to US$360 million, making it the second largest holder, following Virgin Atlantic founder, Sir Richard Branson.   Six months after submitting its application, both the European Commission and the US Justice Department have granted approval for the acquisition, claiming it will provide sufficient competition between the US and the UK and offer better services from business travellers, Global Atlanta reported.In addition to the purchase, Delta also applied for an antitrust immunity between the two airlines to expand scheduling and frequencies.Once approval is secured, the American airline said it will launch non-stop services between Seattle and London-Heathrow.Source = e-Travel Blackboard: N.J. European and US bodies approve acquisition.last_img