Delta Air Lines Announces Acquisition of a 49% Stake in Virgin Atlantic

On 11 December 2012, we announced an agreement under which Delta Air Lines would acquire Singapore Airlines' 49% ownership stake in Virgin Atlantic for US$360 million. The proposed transaction would introduce Delta as a major shareholder while Virgin Group retained its 51% controlling interest. The agreement also established the basis for a closer commercial partnership between our two airlines, particularly on routes connecting the United Kingdom and North America. Alongside the ownership agreement, we announced plans to form a transatlantic joint venture with Delta, subject to regulatory approvals. The proposed arrangement would allow the airlines to coordinate schedules, pricing and services on eligible routes, offering passengers more convenient connections and a wider choice of flights. London Heathrow was a central focus of the partnership, with the combination of our established UK–US network and Delta's extensive North American operations expected to strengthen competition on transatlantic services. The announcement represented a change in our international partnership strategy following Singapore Airlines' investment in 1999. While the ownership transaction and joint venture were still subject to completion and regulatory review, the agreement outlined a new approach to developing our transatlantic business through closer cooperation with a major US airline.