Air France Says Delta, China Eastern Each Acquiring 10% of Its Shares

Paterniano Del Favero
Luglio 27, 2017

Delta Air Lines (DAL) and China Eastern Airlines (CEA) each purchased 10% of Air France KLM (AFLYY) as Air France agreed to purchase the Virgin Group's 31% stake in Virgin Atlantic, Business Insider reported.

Air France-KLM will acquire a 31% stake in the airline now held by t he billionaire entrepreneur's Virgin Group for £220 million.

China Eastern will acquire a 10 percent stake in Air France-KLM for Euro375 million and will also join its board of directors.

"A dynamic global landscape means it's more important than ever for Delta to deepen ties with our global partners to provide opportunities for mutual growth", Delta CEO Ed Bastian said in a statement.

Overall, Bhaskara believes the deal is a win-win for all parties involved.

Virgin will hold on to a 20pc stake in the trans-Atlantic airline, and hold on the chairmanship, as a result of the deal which will see a closer union between the four airlines.

In 2015, Delta acquired 3.55% of China Eastern Airlines for $US450 million.

Air France-KLM on Thursday announced plans for 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.

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