Three major airlines yesterday inked a deal to work together on trans-atlantic routes.
Air France-KLM, Virgin Atlantic and Delta Air Lines said the expanded joint venture would become the “preferred choice for customers travelling across the Atlantic”.
Under the agreement, Air France-KLM is to acquire a 31 per cent stake in Virgin Atlantic for £220m.
Virgin Group will retain chairmanship of the airline and a 20 per cent stake, while Delta will hold onto its 49 per cent stake.
The expanded offering will offer greater frequent flyer benefits, including the ability to earn and redeem miles across all carriers in the network.
The companies also said it would offer the most comprehensive route network in the region, as well as competitive prices.
“Customers will also benefit from the co-location of facilities at key hub airports to improve connectivity and access to each carrier's airport lounges for premium passengers,” they added.
The agreement is now subject to regulatory approval.