Delta Air Lines (DL, Atlanta Hartsfield Jackson) has acquired a 4.3% stake in Hanjin-KAL, the largest shareholder of Korean Air (KE, Seoul Incheon), and plans to eventually increase the stake to 10% after receiving regulatory approval.
"We have a vision to deliver the world's leading trans-Pacific joint venture for our shared customers, offering the strongest network, the best service and the finest experience connecting the US with Asia. This is already one of our fastest-integrating and most successful partnerships, and experience tells us this investment will further strengthen our relationship as we continue to build on the value of the joint venture," Delta CEO Ed Bastian said.
The two carriers are both members of Skyteam and have had a transpacific joint venture since 2018.
Hanjin-KAL owns a 29.9% stake in Korean Air. The majority of the remaining shares are held by various investment and pension funds.
Delta already owns 51% in Aeroméxico (AM, México City International), 49% in Virgin Atlantic (VS, London Heathrow), 17% in Republic Airways (YX, Indianapolis International), 9% in GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas), 9% in Air France-KLM, and 3% in China Eastern Airlines (MU, Shanghai Hongqiao).
