Any "Latest & Greatest" about Delta?
12-02-2012, 11:16 AM
Runs with scissors
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12-02-2012, 11:25 AM
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LONDON (Reuters) - Delta Air Lines, America's largest airline, is plotting to take control of Virgin Atlantic after making a secret approach to the British carrier's Asian shareholder, Britain's Sunday Times reported.
Delta (DAL.N) is understood to have offered to buy Singapore Airlines' (SIAL.SI) 49 percent stake in Virgin. If it succeeds, Delta's European partner Air France-KLM (AIRF.PA) may then buy part of Richard Branson's 51 percent stake, seeing its founder lose control of the airline for the first time.
Branson, who set up Virgin Atlantic in 1984, has been weighing the airline's future for years and two years ago appointed Deutsche Bank to examine offers.
"We are always talking to many airlines on a number of different matters but we never comment on the details of these discussions," a Virgin Atlantic spokeswoman said on Sunday.
Delta and Air France-KLM came close to a deal to buy Virgin Atlantic in February last year but talks broke down over price and Branson's rights over the Virgin brand, the paper reported on Sunday.
Delta was not immediately available for comment.
(Reporting by Luke Jeffs; Editing by Helen Massy-Beresford)
Delta (DAL.N) is understood to have offered to buy Singapore Airlines' (SIAL.SI) 49 percent stake in Virgin. If it succeeds, Delta's European partner Air France-KLM (AIRF.PA) may then buy part of Richard Branson's 51 percent stake, seeing its founder lose control of the airline for the first time.
Branson, who set up Virgin Atlantic in 1984, has been weighing the airline's future for years and two years ago appointed Deutsche Bank to examine offers.
"We are always talking to many airlines on a number of different matters but we never comment on the details of these discussions," a Virgin Atlantic spokeswoman said on Sunday.
Delta and Air France-KLM came close to a deal to buy Virgin Atlantic in February last year but talks broke down over price and Branson's rights over the Virgin brand, the paper reported on Sunday.
Delta was not immediately available for comment.
(Reporting by Luke Jeffs; Editing by Helen Massy-Beresford)
Frankly, Virgin could not run Delta and I don't think Delta can run Virgin. Virgin operates at the margin. Delta eviserates marginal capacity to leverage profits.
Originally Posted by Huffington Post, just now
Sir Richard Branson reportedly faces loses control of airline Virgin Atlantic for the first time as America's largest airline made a secret takeover approach.
Delta Air Lines is understood to have offered to buy Singapore Airlines' 49% holding in Virgin, the Sunday Times said.
If it succeeds, Delta's European partner Air France-KLM may then buy part of Sir Richard's 51% stake, leaving the entrepreneur without majority control of the airline.
Sir Richard, who set up the airline in 1984, is said to have been weighing its future for several years, appointing Deutsche Bank two years ago to examine offers.
Delta and Air France-KLM came close to a deal in February 2011 but discussions broke down over price and Branson's rights over the Virgin brand.
Virgin, which has its headquarters at Gatwick, has a fleet of 40 aircraft and flies around six million passengers a year to long-haul destinations. It posted a pre-tax loss of £80 million in the 12 months to the end of February.
Singapore paid £600 million for its stake in 1999 and there is no certainty a deal would be reached.
Earlier this year, British Airways expanded as it bought BMI British Midland, the second-largest Heathrow operator, giving it more than 50% of the crowded airport's take-off and landing slots.
Delta is America's biggest carrier by the number of passengers, carrying about 160 million a year compared with United Airlines' 140 million.
Delta Air Lines is understood to have offered to buy Singapore Airlines' 49% holding in Virgin, the Sunday Times said.
If it succeeds, Delta's European partner Air France-KLM may then buy part of Sir Richard's 51% stake, leaving the entrepreneur without majority control of the airline.
Sir Richard, who set up the airline in 1984, is said to have been weighing its future for several years, appointing Deutsche Bank two years ago to examine offers.
Delta and Air France-KLM came close to a deal in February 2011 but discussions broke down over price and Branson's rights over the Virgin brand.
Virgin, which has its headquarters at Gatwick, has a fleet of 40 aircraft and flies around six million passengers a year to long-haul destinations. It posted a pre-tax loss of £80 million in the 12 months to the end of February.
Singapore paid £600 million for its stake in 1999 and there is no certainty a deal would be reached.
Earlier this year, British Airways expanded as it bought BMI British Midland, the second-largest Heathrow operator, giving it more than 50% of the crowded airport's take-off and landing slots.
Delta is America's biggest carrier by the number of passengers, carrying about 160 million a year compared with United Airlines' 140 million.
Originally Posted by BBC
Virgin Atlantic has reported an annual loss because of higher fuel prices.
The carrier made a loss of £80m in the 12 months to the end of February, compared with a profit of £18.5m a year earlier.
Founded by Sir Richard Branson and 49% owned by Singapore Airlines, Virgin said its fuel costs rose by one third.
Revenues at the airline increased 3% to £2.74bn, while its passenger numbers went up by 2% to 5.4 million.
Its load factor - the measure of how full its flights were - totalled 78%.
Virgin's chief executive Steve Ridgway said: "In an incredibly challenging market, we have managed to grow top line revenues and fly more customers than last year.
"However, with the prevailing uncertainty in the economy, sky high fuel prices and a 25% hike in our air passenger duty fees, converting this sales growth into profit has not been possible."
The carrier made a loss of £80m in the 12 months to the end of February, compared with a profit of £18.5m a year earlier.
Founded by Sir Richard Branson and 49% owned by Singapore Airlines, Virgin said its fuel costs rose by one third.
Revenues at the airline increased 3% to £2.74bn, while its passenger numbers went up by 2% to 5.4 million.
Its load factor - the measure of how full its flights were - totalled 78%.
Virgin's chief executive Steve Ridgway said: "In an incredibly challenging market, we have managed to grow top line revenues and fly more customers than last year.
"However, with the prevailing uncertainty in the economy, sky high fuel prices and a 25% hike in our air passenger duty fees, converting this sales growth into profit has not been possible."
If this is just a defensive play from Emirates or Qatar, it's a lot of money to defend Heathrow.
Last edited by Bucking Bar; 12-02-2012 at 11:47 AM.
12-02-2012, 11:37 AM
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Think Singapore is looking for a new situation too?
12-02-2012, 11:39 AM
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12-02-2012, 11:49 AM
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12-02-2012, 11:50 AM
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Reading the article, it seems the initial plan was for DAL to be the majority shareholder.
Delta is understood to have offered to buy Singapore Airlines' 49 percent stake in Virgin. If it succeeds, Delta's European partner Air France-KLM may then buy part of Richard Branson's 51 percent stake, seeing its founder lose control of the airline for the first time.
So I'm reading that as DAL having 49%, and the remaining 51% being divided among AF/KLM & Richard Branson.
Delta is understood to have offered to buy Singapore Airlines' 49 percent stake in Virgin. If it succeeds, Delta's European partner Air France-KLM may then buy part of Richard Branson's 51 percent stake, seeing its founder lose control of the airline for the first time.
So I'm reading that as DAL having 49%, and the remaining 51% being divided among AF/KLM & Richard Branson.
So with the cozying up to VA Aussie this seems pretty bold. I think it would probably help to fend off the middle east carriers to have Virgin in Skyteam, but you do have to wonder about branding...
12-02-2012, 11:50 AM
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Virgin Pilots are paid about half of what we get paid ... perhaps that explains why Delta might want the "brand."
Virgin strike: Sir Richard Branson sends letters to pilots | Mail Online
Virgin strike: Sir Richard Branson sends letters to pilots | Mail Online
12-02-2012, 11:50 AM
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For those of you that think senior guys on reserve never sit short call, I'm a pretty senior (for reserve) guy this month. Came back from a trip on the 1st, shortcall on the 2nd, and now shortcall on the 3rd too if I don't get assigned a trip before then...... It almost looks like the entire reserve list is on shortcall.....except the guys with 1 or 2 days left.
Just sayin'.....
Denny
Just sayin'.....
Denny
12-02-2012, 11:56 AM
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As men get older, they look like Sean Connery. As women get older, they look like Sean Connery, also.
J/KTEN
PS. I have seen TIMBO in Narita! He looks like he is 35 years old; flying as a 777 Captain.
12-02-2012, 11:58 AM
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