Delta buys Virgin stake: The short history of a quick consummation
A photo composite with Richard Branson and his new friends at Delta. Hardo Muller / Flickr.com
This happened so quickly it’s clear that Delta was working behind the scenes for some time. But it’s clear that Delta is trying to better position itself and its Alliance airlines to better take on threats in Europe.
Today’s announcement by Delta that it had secured a 49% stake in Virgin Atlantic from Singapore Airlines for $360 million was the finale to a fevered, 10-day drama that began when the Sunday Times reported that Delta was making secret moves to buy a large portion of Richard Branson’s marquee airline.
As the days unfolded, it became clear that Delta’s pursuit of Virgin was about one thing: More slots at Heathrow for the SkyTeam Alliances, which was woefully underrepresented at one of Europe’s primary hubs. Below you’ll find Skift’s complete coverage of the events:
- It’s official: Delta buys 49 percent stake in Virgin Atlantic for $360 million
- Delta nearing $300-$500 million deal to buy Singapore’s piece of Virgin Atlantic
- Why Delta and Skyteam need the Virgin Atlantic partnership and Heathrow slots
- Air France-KLM not involved with Delta-Virgin sale talks; cutting debt by $645 million
- British Airways boss would love to see the Virgin Atlantic brand become history
- Does Branson risk spoiling his well-built brand by partnering with a traditional airline like Delta?
- Virgin’s travel branding masks financial performances that are all over the map
- Delta-Virgin deal talks: Delta’s Heathrow hopes and Virgin’s motivations
- UPDATED: Delta is making secret moves to take over Virgin Atlantic as Heathrow’s the prize