Steering an Airline Joint Venture Holland & Knight’s Aviation Team obtained antitrust immunity from the U.S. Department of Transportation for a joint venture between our client, Virgin Atlantic Airways, and Delta Air Lines. Approval for this high-profile transaction enables the carriers to create a joint business on routes between North America and the United Kingdom. This joint venture is part of a larger transaction, in which Delta replaced Singapore Airlines as a 49 percent minority shareholder in Virgin Atlantic. (The Virgin Group retains its 51 percent stake in Virgin Atlantic.) As a result of the joint venture, the two airlines will share costs and revenue, and will coordinate routes, schedules and prices on their trans-Atlantic flights. The carriers now have a harmonized schedule be

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