Share Name Share Symbol Market Type
Air France KLM EU:AF Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.186 1.92% 9.896 9.88 9.90 9.93 9.658 9.658 1,916,450 16:40:00

Richard Branson Scraps Plan to Sell Virgin Atlantic Stake to Air France-KLM

03/12/2019 8:49am

Dow Jones News


Air France KLM (EU:AF)
Historical Stock Chart

2 Months : From Nov 2019 to Jan 2020

Click Here for more Air France KLM Charts.
   By Max Bernhard 
 

Richard Branson said he has abandoned plans to sell a stake in U.K. airline Virgin Atlantic to Air France-KLM (AF.FR).

The British billionaire said Monday in a letter to employees posted on his blog that he has reached a deal to retain a 31% stake in the airline he founded, keeping the total holding at 51%.

In 2018, Air France had signed a definitive agreement to acquire the 31% stake in Virgin Atlantic for 220 million pounds ($284.3 million). Delta Air Lines Inc. (DAL) was to retain the 49% stake it already holds as part of the deal between the three partners.

"To get the deal done, we initially thought our family would need to reduce its shareholding in Virgin Atlantic," Mr. Branson said Monday. The new agreement with the joint-venture partners is "subject to contract," he said , noting that the expanded joint venture with Delta and Air France "remains an essential part of our future and long-term success."

 

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

December 03, 2019 03:34 ET (08:34 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

1 Year Air France KLM Chart

1 Year Air France KLM Chart

1 Month Air France KLM Chart

1 Month Air France KLM Chart
Your Recent History
EU
AF
Air France..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20200118 06:43:47