Delta has purchased 10% of Air France

Delta Boeing 777 200LR Aeromexico
Delta Air Lines Boeing 777-200LR. Flickr/BriYYZ

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.