Airlines
Series of Transactions to Consolidate Power in Airline Business
Far-reaching deals involve Air France-KLM, Delta Air Lines, Virgin Atlantic and China Eastern

Delta Air Lines, Air France-KLM, Virgin Atlantic and China Eastern have all agreed to participate in partnership deals aimed at fending off competition from powerful Persian Gulf airlines and emerging long-haul, low-fare carriers plying the North Atlantic. The centerpiece of the activity, all announced on Thursday, involves the launch of a long-term joint venture between Delta, Air France-KLM and Virgin Atlantic supported by a 31-percent investment by Air France-KLM in Virgin Atlantic in 2018. As a result, Richard Branson will relinquish control of Virgin Atlantic, as his share falls from 51 percent to 20 percent.