Delta and Virgin Atlantic Launch Transatlantic Joint Venture

On 1 January 2014, we officially launched our transatlantic joint venture with Delta Air Lines, beginning a new phase of commercial cooperation between our two airlines. The partnership followed Delta's acquisition of a 49% stake in Virgin Atlantic in June 2013 and the granting of antitrust immunity by the US Department of Transportation in September that year. It enabled us to coordinate schedules, pricing, sales and other commercial activities on eligible routes between the United Kingdom and North America, while continuing to operate under our respective brands. The joint venture initially brought together 32 daily nonstop flights between the UK and North America, including nine daily services between London Heathrow and New York's John F. Kennedy and Newark airports. By coordinating our flight schedules, we aimed to provide more convenient departure times, improved connections and greater flexibility for passengers travelling across the Atlantic. The arrangement also included reciprocal frequent flyer benefits, shared lounge access for eligible customers and coordinated corporate sales activities. For Virgin Atlantic, the joint venture strengthened our ability to compete in the transatlantic market by combining our UK-focused long-haul network with Delta's extensive North American operations. It established a more integrated commercial relationship while allowing both airlines to retain their individual identities and customer service offerings.