Delta Air Lines close to taking Virgin Atlantic stake

Delta Air Lines close to taking Virgin Atlantic stake

Delta Air Lines is close to taking a stake in Virgin Atlantic Airways in a deal believed to be worth between $300 million to $500 million.

According to widespread reports, the deal is close to completion.

“All we can say right now is that we cannot comment on industry rumour and speculation,” Delta spokesman Trebor Banstetter told the Los Angeles Times.

Singapore Airlines owns a 49 per cent stake in Virgin Atlantic.

However, last week the carrier said it was in talks with a possible buyer for that stake.

Delta has been widely reported to be on the other side of those talks.

A partnership with Virgin Atlantic could give Delta access to some of its landing rights, or at least to some of the financial benefits of flying people to London.