DOT Approves Joint Venture between Virgin Atlantic Airways and Delta Air Lines: Holland & Knight Represents Virgin Atlantic in Securing Regulatory Approvals
Washington (September 23, 2013) - The Department of Transportation (DOT) today issued an order approving a joint venture agreement between Virgin Atlantic Airways and Delta Air Lines. The decision to confer antitrust immunity upon the venture will allow the carriers to create a joint business on routes between North America and the United Kingdom. Holland & Knight represented Virgin Atlantic in both developing a regulatory strategy and securing approval for the joint venture.
The joint venture is part of a larger transaction, pursuant to 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.) The share transaction was subject to approvals from the European Commission and the U.S. Department of Justice.
"Holland & Knight is honored to have been a part of the team supporting the formation and approval of this joint venture," said Partner Anita Mosner, who led the firm's representation and is Deputy Chair of the firm’s aviation team. "We appreciated the opportunity to support Virgin Atlantic and its parent, the Virgin Group, throughout the negotiations that led to this important arrangement, and helping to secure the needed approval for this deal."