Signature of the transatlantic joint venture agreements


 

PARIS, ATLANTA and LONDON, May 15, 2018 – Air France-KLM, Delta Air Lines and Virgin Atlantic Limited have today signed definitive agreements paving the way forward for their expanded trans-Atlantic joint venture:     

  • The Joint Venture Agreement signed between Air France-KLM, Delta and Virgin Atlantic sets out the governance as well as the commercial and operational terms of the expanded trans-Atlantic Joint Venture.
  • Upon completion, Air France-KLM will acquire a 31 per cent stake in Virgin Atlantic currently held by Virgin Group for £220 million.
  • Virgin Group will retain a 20 per cent stake and Chairmanship of Virgin Atlantic.
  • Delta will retain its 49 per cent stake.

Air France-KLM, Delta and Virgin Atlantic will now coordinate efforts to secure the appropriate regulatory approvals.

The airlines’ expanded joint venture will become the preferred choice for customers travelling across the Atlantic offering the most comprehensive route network, convenient flight schedules, competitive fares and reciprocal frequent flyer benefits, including the ability to earn and redeem miles across all carriers. 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.

The signed agreements are all subject to regulatory approvals.

About Air France KLM

A global airline group with a strong European base, Air France-KLM’s main areas of business are passenger transport, cargo transport and aeronautical maintenance.

Air France-KLM is the leading Group in terms of international traffic on departure from Europe. In 2018, it offers its customers access to a network covering 314 destinations in 116 countries thanks to its five brands Air France, KLM Royal Dutch Airlines, Joon, Transavia and HOP! Air France. With a fleet of 537 aircraft in operation and 98.7 million passengers carried in 2017, Air France-KLM operates up to 2,300 daily flights, mainly from its hubs at Paris-Charles de Gaulle and Amsterdam-Schiphol.

Its Flying Blue frequent flyer programme is one of the leaders in Europe with over 15 million members.

Air France-KLM and its partners Delta Air Lines and Alitalia operate the biggest trans-Atlantic joint-venture with over 270 daily flights.

Air France-KLM is also a member of the SkyTeam alliance which has 20 member airlines, offering customers access to a global network of over 16,600 daily flights to more than 1,070 destinations in 177 countries.

airfranceklm.com
@AirFranceKLM

About Virgin Atlantic

Virgin Atlantic was founded by entrepreneur Sir Richard Branson 34 years ago with innovation and customer service at its core. Today Virgin Atlantic carries 5.5 million customers annually, and was recently named the UK’s favourite long haul carrier by Skytrax, Best Transatlantic Airline at the British Travel Awards 2017 and one of the Top 5 Airlines in the World by Airline Ratings. Headquartered in London, Virgin Atlantic employs over 10,000 people worldwide and operates a fleet of 47 aircraft serving 25 destinations across four continents. Alongside joint venture partner Delta Air Lines they operate a leading transatlantic network - offering up to 38 flights per day between the UK and US with onward connections to over 200 US and international cities. In 2019 Virgin Atlantic will take delivery of their first Airbus A350-1000 aircraft - helping to transform the fleet into one of the quietest and most fuel efficient in the sky.

For more information visit: www.virginatlantic.com  or via twitter @virginatlantic 

About Delta

Delta Air Lines serves more than 180 million customers each year. In 2018, Delta was named to Fortune’s top 50 Most Admired Companies in addition to being named the most admired airline for the seventh time in eight years. Additionally, Delta has ranked No.1 in the Business Travel News Annual Airline survey for an unprecedented seven consecutive years. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 321 destinations in 57 countries on six continents. Headquartered in Atlanta, Delta employs more than 80,000 employees worldwide and operates a mainline fleet of more than 800 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry’s leading transatlantic joint venture with Air France-KLM and Alitalia as well as a joint venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with key hubs and markets including AmsterdamAtlanta, BostonDetroitLos Angeles, Mexico City, Minneapolis/St. PaulNew York-JFK and LaGuardiaLondon-HeathrowParis-Charles de GaulleSalt Lake City, São Paulo, Seattle, Seoul, and Tokyo-Narita. Delta has invested billions of dollars in airport facilities, global products and services, and technology to enhance the customer experience in the air and on the ground. Additional information is available on the Delta News Hub, as well as delta.com, Twitter @DeltaNewsHub and Facebook.com/delta.