Delta Air Lines and China Eastern have announced that they have each purchased 10% of Air France.
In addition, Air France has agreed to purchase the Virgin Group’s 31% stake in Virgin Atlantic valued at $US287 million.
Air France-KLM formed following a 2004 merger that saw the national airlines of France and the Netherlands come together to form one of the largest carriers in Europe.
In 2012, Delta acquired a 49% stake in Virgin Atlantic Airways from Singapore Airlines in a deal worth $US360 million.
In 2015, Delta acquired 3.55% of China Eastern Airlines for $US450 million.
Last week, Air France announced the launch of Joon, a boutique, millennial-focused airline that’s it hopes will put the company in a better position to compete globally.
This story is developing.
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