AF/KLM will not take share of Virgin Atlantic

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Air France-KLM does not take an interest in Virgin Atlantic. The airline confirmed this on Wednesday, after Virgin boss Richard Brandson already announced it in a blog.

“It is no longer necessary for Air France-KLM to take an interest in Virgin Atlantic,” the Dutch-French airline writes in a statement. The far-reaching cooperation between Air France-KLM, Delta and Virgin will continue as usual. The parties recently received the green light for the deal from authorities. Air France-KLM and Virgin are still negotiating how they can shape the cooperation in the newly created situation.

Air France-KLM announced in 2017 that it would take a substantial stake of 31 percent in Virgin for an amount of £ 220 million. This would make the company the second largest shareholder in that company, after the American Delta Air Lines, which holds 49 percent. Branson wrote earlier that he thought at the time that a sale was necessary to make a chance with Virgin against larger companies, but that he reluctantly relinquished control.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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