Virgin Atlantic (VS, London Heathrow) hopes to finalise a deal with Air France-KLM which would see the Franco-Dutch group acquire a 31% stake in the British carrier by early 2019, slightly behind the original schedule, CEO Craig Kreeger has been reported as saying by Reuters.
The transaction was initially planned to conclude in 2018. However, obtaining the necessary permission from the US anti-trust authorities may take longer but should be secured within a year from now, Kreeger has said.
Air France-KLM will acquire the stake from Sir Richard Branson's Virgin Group. Following the transaction, the group's holding in the carrier will decrease to 20%, leaving Delta Air Lines as the largest single shareholder with a 49% stake in Virgin Atlantic.
