Delta acquires 4% stake in Korean Air


Delta has acquired a 4.3% stake in Korean Air's largest shareholder, Hanjin KAL, and plans to increase that stake to 10%, pending regulatory approval.

Current market prices value the stake at about $88 million, according to Reuters. A joint venture between Korean Air and Delta began last year and has been one of Delta's "fastest-integrating and most successful partnerships," according to Delta CEO Ed Bastian.

Delta has invested in other partners, including Air France-KLM, Aeromexico, Gol, China Eastern and Virgin Atlantic, in which Delta has a 49% stake.

Source: Business Travel News

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