The Air France-KLM Group announced on Thursday 27 July 2017 they would acquire a 31 percent stake in Virgin Atlantic. The deal is worth around GBP 220 million. The Franco-Dutch group plans on investing around “over $1 billion of equity transactions with other airlines in what it described as a move to become the European pillar of an enhanced global network.” (Reuters)

The deal will also involve the creation of a single joint services agreement adding to the existing AF-KL/Delta trans-Atlantic services alliance.

Air France-KLM will become the second largest share holders in Virgin Atlantic after Delta Air Lines which has a 49 percent stake.

Furhermore both Delta Air Lines and China Eastern Airlines each acuired a ten percent stake in the Air France-KLM Group through the acquistion of new shares.