Delta Air Lines has said that it has received approval for acquiring a 49 per cent stake in Britain's Virgin Atlantic and announced that the two airlines would now start cross-selling seats on each other's flights.

Delta Chief Executive Richard Anderson told his staff that the company would begin a significant cooperative relationship with the UK-based airline and would start cross selling tickets. He also aid that the company has organised a press event in New York to announce the closing of the deal between the two firms. The deal is still subject to an approval from the U. S. Transportation Department.

The acquisition will result in a partnership that will help Delta expand its foothold on Europe's busiest airport, London's Heathrow Airport where the two might offer more flights. The unavailability of landing slot had impacted the growth of both the airlines earlier. Delta will also be in a better position to attract business travels by competing better with United Continental and American Airlines.

Under the partnership, tow two firms will share costs and revenue on the services between Britain and North America. The two companies will operate 31 round-trip flights between the U. K. and all of North America during high demand season.

Source: Top News