Delta Plans 10% Stake in Korean Air

By Anna Breuer on 20 June 2019
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DSC_0348 (2)Delta Air Lines announced it has taken an equity stake in its joint-venture partner, Korean Air.

The Atlanta-based airline said on Thursday it had acquired 4.3% of Hanjin-KAL, Korean Air’s largest shareholder and that it intends to increase its holdings to 10% over time, subject to regulatory approval.

“Experience tells us this investment will further strengthen our relationship as we continue to build on the value of the joint venture,” said Delta CEO Ed Bastian.

The two airlines operate a trans-pacific joint venture where the two carriers share the cost and revenue on flights, as well as coordinate schedules. In addition, members of Delta’s SkyMiles and Korean’s Skypass frequent flyer programs can earn and redeem miles on flights operated by the other carrier.

The joint venture was announced in March 2017. It created a combined network of over 290 destinations in the Americas, and over 80 throughout Asia.

(Photo: Accura Media Group)

Accura News

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