A PYMNTS Company

US: Delta, Air France, Virgin JV gets approval wth conditions

By  |  August 4, 2019

US Transportation Secretary Elaine Chao granted tentative approval on Friday, August 2, for an expanded transatlantic joint venture made up of Delta Air Lines, Air France KLM, and Virgin Atlantic.

The expanded joint venture would replace two previously approved arrangements in the US-United Kingdom and US-Continental Europe markets and will allow for additional benefits like more options on European flights, a Department of Transportation statement said.

The Department tentatively approved antitrust immunity for the joint venture and will require the carriers to report annually on commercial cooperation efforts and provide a detailed assessment after five years, the statement said.

In May 2018, the three airlines signed definitive agreements as part of a plan for an expanded transatlantic joint venture. EU antitrust regulators in February cleared Air France-KLM, Delta, and Virgin Group to acquire joint control over Virgin Atlantic, stating they did not see any competition concerns.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.