Air France-KLM Buying Stake in Virgin Atlantic in Major Airline Shake-up
Photo Credit: Air France-KLM is buying a 31 percent stake in Virgin Atlantic. Air France-KLM
Skift Take
Despite relinquishing his control, Richard Branson has been able to save face by negotiating the continuation of the Virgin Atlantic brand. At the same time a strengthened transatlantic joint venture means he'll have a better chance at competing with British Airways and its partners.
Air France-KLM is buying a 31 percent stake in Virgin Atlantic as part of a series of deals that look set to shake up the airline world.
With the flurry of moves, Delta Air Lines becomes the largest shareholder at 49 percent in Virgin Atlantic and founder Richard Branson cedes control. He will retain a 20 percent stake through his Virgin Group and the airline will continue to fly under the Virgin brand.
At the same time, De
