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Air France-KLM in $1-billion equity deals to expand alliances

Airline group said it would buy 31% of Virgin Atlantic from Virgin Group for around £220 mn


Air France-KLM on Thursday announced plans for over $1 billion of equity transactions with other airlines in what it described as a move to become the European pillar of an enhanced global network. The Franco-Dutch airline group said it would buy 31 per cent of Virgin Atlantic from Virgin Group for around £220 million. That move came as Air France-KLM, Delta Air Lines and Virgin Atlantic signed a provisional agreement to create a single global joint venture between the three carriers, combining two existing transatlantic tie-ups. Air France-KLM also announced plans to ...

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First Published: Fri, July 28 2017. 02:39 IST