We believe this is very exciting news for our customers, for our business and signals the start of a new era of growth and opportunities. On 11th December 2012, we announced that Delta will acquire a 49% stake in Virgin Atlantic from Singapore Airlines. Virgin Group – and Richard Branson – will continue as majority shareholder with a 51% stake in Virgin Atlantic.
Our new partnership with Delta will provide a significant boost for both airlines between North America and the UK, particularly in the New York-London market, which is one of the most competitive business markets in the world.
We have also announced a joint venture with Delta which will create an expanded transatlantic network. By combining the strengths of our two companies in a joint venture, we can better serve customers travelling between North America and the UK and continue building a better airline for our employees, shareholders and most importantly our customers.
In order to realise all the benefits of the joint venture, the US Department of Transportation (DOT) will need to grant Delta and ourselves regulatory approval. Because we believe there are major consumer benefits, we are confident that the DOT will approve the joint venture and it will come into effect within the next 12 months.
For more information about our alliance, please view our dedicated Q&A's below: