Delta Air Lines to buy 49% stake in Virgin AtlanticDecember 12, 2012 - 10:48 AMT PanARMENIAN.Net - Delta Air Lines agreed to buy a 49 percent stake in Virgin Atlantic, creating a joint venture that would expand Delta's access to London's Heathrow Airport and increase competition in the lucrative transatlantic market, according to Reuters. The partnership would let both carriers offer more flights at Heathrow, Europe's busiest airport, where landing-slot constraints have limited their growth. It also gives Delta the ability to attract prized corporate travelers as it competes with industry leader United Continental and American Airlines, whose partnership with British Airways dominates travel between the United States and London. Delta and Virgin said their agreement would generate new revenue and leverage Virgin's strong luxury brand. The venture also will be "very positive and accretive for our long-term partners ... KLM, Air France and Alitalia," Delta Chief Executive Richard Anderson said, referring to the European airlines with which Delta already has partnerships. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |