July 27, 2017 / 4:05 PM / 3 years ago

BRIEF-Air France signs JV with Delta and Virgin Atlantic, strengthens partnership with China Eastern

July 27 (Reuters) - Air France-KLM:

* REG-AIR FRANCE-KLM EXPANDS ITS ALLIANCES BETWEEN THE NORTH ATLANTIC, EUROPE AND ASIA, AND AFFIRMS ITS POSITION IN THE WORLDWIDE AIRLINE INDUSTRY

* WILL ACQUIRE VIRGIN GROUP’S 31% STAKE IN VIRGIN ATLANTIC FOR AROUND £220 MILLION

* DELTA AND CHINA EASTERN WILL EACH ACQUIRE A 10% STAKE IN AIR FRANCE-KLM BY SUBSCRIBING NEW SHARES THROUGH CAPITAL INCREASES TOTALLING EUR 751 MILLION

* ACQUISITION OF THESE STAKES WILL BE ACCOMPANIED BY APPOINTMENT OF TWO BOARD DIRECTORS TO AIR FRANCE-KLM BOARD OF DIRECTORS, FIRST NOMINATED BY CHINA EASTERN AND SECOND BY DELTA Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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