As economic sanctions loom over the Philippines as a result of the increasing tension between the Philippines and Taiwan what kind of effect will it have on the two countries?
Delta buys 49% stake in Virgin Atlantic
DELTA IN CHARGE. Virgin Atlantic Airways will retain its brand and operating certificate. Photo from Virgin Atlantic's official Facebook page
NEW YORK, USA - Delta Air Lines is buying Singapore Airlines' 49 percent stake in Virgin Atlantic Airways, forging a joint venture to expand the carriers' trans-Atlantic network, the companies announced Tuesday, December 11.
Under the agreement, Delta will invest $360 million and British mogul Richard Branson's Virgin Atlantic will keep the 51 percent controlling stake.
Virgin Atlantic Airways will retain its brand and operating certificate.
"Our new partnership with Virgin Atlantic will strengthen both airlines and provide a more effective competitor between North America and the UK, particularly on the New York-London route, which is the largest airline route between the US and Europe," said Delta chief executive Richard Anderson.
The alliance gives the Atlanta, Georgia-based Delta greater presence at the congested London Heathrow airport.
The two carriers will operate as many as 31 round-trip flights between Britain and North America, 23 of which operate out of London-Heathrow. - Agence France-Presse
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