Air France KLM confirms it will no longer acquire 31% of Virgin Atlantic

posted on 5th December 2019 by Eddie Saunders
Air France KLM confirms it will no longer acquire 31% of Virgin Atlantic

Air France-KLM, Delta Air Lines and Virgin Atlantic welcomed the U.S. Department of Transportation’s decision to grant them Antitrust Immunity (ATI) in the framework of the extension of the transatlantic joint venture. This was the final regulatory step for the airlines to move forward with their alliance.

In parallel, the partners finalized the expanded joint venture’s governance agreeing on simplified decision making processes that will enable the joint-venture to deliver its full synergy potential. Air France-KLM and Virgin have considered that Air France-KLM’s acquisition of a stake in Virgin Atlantic is no longer necessary and are negotiating an agreement whereby Air France-KLM will not acquire a stake in Virgin Atlantic, without any impact on Air France-KLM’s position in the commercial Delta -Virgin Atlantic- Air France-KLM joint venture.

Air France-KLM will pursue its ambitious investment plan to regain its leadership position and will continue final preparations towards the launch of the expanded trans-Atlantic joint venture in the coming weeks.

This partnership is key to strengthen the Group’s leadership position between Europe and North America and will offer its customers the best streamlined travel experience across the Atlantic.