Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Delta Buys 49% Stake In Virgin Atlantic For $360 Million
By
Jen Chung
Published Dec 11, 2012
Modified Dec 11, 2012
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Dec 11, 2012
Modified Dec 11, 2012
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Today, Delta Airlines announced it would buy a $360 million stake in Virgin Atlantic from Singapore Airlines; the amount represents 49% of the sexy Richard Branson-founded airline. The NY Times explains, "The deal will provide Delta with more access to Heathrow Airport, one of the world’s busiest hubs, where takeoff and landing rights are limited because of high demand and tight capacity. New York, where all major airlines are battling to attract high-paying passengers, is the top international destination from Heathrow."
The Financial Times points out, "Virgin has an estimated 21 daily flights out of Heathrow, with 12 going to the US. Delta, the second-largest US airline by revenue, has eight daily flights from Heathrow to the US." Delta only has 0.3% of slots (takeoff and landing rights) at Heathrow, while Virgin has 3.3%; British Airways has 53%.
Additionally, Bloomberg BusinessWeek reports, "Delta and Virgin Atlantic will also provide reciprocal frequent flier benefits, and allow elite passengers to use each other’s airport lounges. "
Richard Branson and his Virgin Group retains control of Virgin. Branson is excited about the deal, although he's been more preoccupied with a bet with British Airways head Willie Walsh. Walsh claimed that the Virgin brand would disappear, so Branson bet him $1.6 million that Virgin would still be around in five years, with the money going to the winning side's staff. Walsh suggested that the loser instead take a knee to the groin, which Branson accepted (adding the loser should also donate $1.6 million to charity).
Tagged
air travel
airplanes
delta
heathrow
london
richard branson
virgin atlantic
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
US judge tosses Trump lawsuit targeting pro-Palestinian protesters in NJ
The Justice Department sued demonstrators who protested at a synagogue, under a law aimed at shielding abortion clinics.
By
Willow Higgins
Published Oct 3, 2026 at 10:00 a.m. ET
A big, bright Saturn will be the highlight of NYC's fall stargazing season
Stargazers will have a great view of Saturn and two meteor showers in October.
By
Rosemary Misdary
News
A big, bright Saturn will be the highlight of NYC's fall stargazing season
Stargazers will have a great view of Saturn and two meteor showers in October.
By
Rosemary Misdary
NYC tow companies busted for ripping off drivers must give $67K in refunds, city says
By
Liam Quigley
Off-duty NYPD officer stabbed in the Bronx, police say
By
Ryan Kost
DOC negligence factored in death at Rikers' Bellevue hospital outpost, jail officials say
By
Brittany Kriegstein
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .