Reports: Delta in talks for Virgin Atlantic stake
NEW YORK (AP) - Delta Air Lines Inc. is mulling the purchased of a 49 percent stake in British airline Virgin Atlantic Airways from Singapore Airlines Ltd., according to media reports.
The remaining 51 percent of Virgin Atlantic is owned by billionaire Richard Branson, who founded the airline in 1984.
Singapore has been considering selling its stake in Virgin for several years and has talked with Delta about a sale in the past, according to the Wall Street Journal.
Virgin has been looking for a possible suitor, too. It hired investment firm Deutsche Bank in 2010 to explore its options.
Buying Virgin is attractive to a carrier like Delta because of its potential to unlock more access to London's Heathrow airport, a key international gateway. Virgin is the second-biggest airline there after British Airways.
The remaining 51 percent of Virgin Atlantic is owned by billionaire Richard Branson, who founded the airline in 1984.
Singapore has been considering selling its stake in Virgin for several years and has talked with Delta about a sale in the past, according to the Wall Street Journal.
Virgin has been looking for a possible suitor, too. It hired investment firm Deutsche Bank in 2010 to explore its options.
Buying Virgin is attractive to a carrier like Delta because of its potential to unlock more access to London's Heathrow airport, a key international gateway. Virgin is the second-biggest airline there after British Airways.
Delta is already too big. Thier customer service is only better than American and thats not saying much. Its time the government says NO to this type of merger as bad for the consumer.
Delta is big enough, and Virgin Atlantic service is legendary - Delta would do nothing more than screw it all up. I wouldn't want Conited to buy them either.