Delta Air Lines buys 49 percent of Virgin Atlantic for $360 million

[Hamfighter]

Delta Air Lines Inc. is buying almost half of British airline Virgin Atlantic for $360 million as it aims to boost its share of the lucrative New York-to-London market.
Delta says it will form a joint venture with Virgin Atlantic, where the two airlines would share money from the flights operated under the partnership.
Sir Richard Branson will still own more than half of Virgin Atlantic, which will continue to fly as a separate airline under its own name.
Landing rights at London's Heathrow Airport are limited. So buying part of Virgin Atlantic will help Delta get a bigger piece of the travel market there.
The joint venture needs approval from U.S. and European regulators. Delta is aiming to have the joint operation running by the end of 2013.

 

[BILL LUMBERG]

And Delta Pilots get?????

nothing....nada.....zip!

 

[DUBLINFLYER]

You will get nothing and like it- please sir can I have some more!

 

[Always deferred]

And Delta Pilots get?????

nothing....nada.....zip!

I would opine that this is actually very good news for Delta pilots and employees as a whole. From a business perspective, Delta has taken enormous steps to diversify its business (refinery, stake in VS, etc) which positions itself well to weather future economic downturns. This in turn should provide excellent job security to all Delta employees, including pilots. A stronger, more prosperous Delta can only benefit you guys in the long run.

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[Hamfighter]

I'm willing to take a pay cut. And more RJ's.

 

[bri5150]

Wooohooo, let the spinning begin. Farmed out heavy flying is a good thing for Delta pilots! I would hate to have those $200k+ jobs at my airline!

 

[General Lee]

From Yahoo Finance:

Highlights of the agreement include:
A fully integrated joint venture that will operate on a "metal neutral" basis with both airlines sharing the costs and revenues from all joint venture flights.
A combined trans-Atlantic network between the United Kingdom and North America with 31 peak-day round-trip flights.
Enhanced benefits for customers including cooperation on services between New York and London, with a combined total of nine daily round-trip flights from London-Heathrow to John F. Kennedy International Airport and Newark Liberty International Airport.
Reciprocal frequent flyer benefits.
Shared access to Delta Sky Club and Virgin Atlantic Clubhouse airport lounges for elite passengers.



Bye Bye--General Lee

 

[johnsonrod]

What did the pilots get from the oil refinery? Probably better job security and maybe better profit share... Some deals are just strategic. Let's hope Delta does not completely outsource London flights to Virgin - that would be a negative....

 

[General Lee]

What did the pilots get from the oil refinery? Probably better job security and maybe better profit share... Some deals are just strategic. Let's hope Delta does not completely outsource London flights to Virgin - that would be a negative....

I would think that would have to be approved by Dalpa, which wouldn't be a good thing for DL pilots. The AF/KL JV was just strengthened. Doubt it.


Bye Bye---General Lee

 

[aa73]

Your question should be, will Delta increase their JFK-LHR frequencies on top of what they already have, with this purchase? If the answer is Yes, then it's a plus for the pilots.