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Tuesday, December 11, 2012

Delta CEO -new venture to have a quarter of transatlantic market, (NYSE: DAL)

Delta Air Lines Inc's new joint venture with Virgin Atlantic Airways Ltd will likely control 24 to 25 percent of the cross-Atlantic market for air travel, Delta Chief Executive Richard Anderson said on Tuesday. Delta Air Lines will purchase Singapore Airlines' 49 percent stake in Virgin Atlantic for $360 million, it said earlier in the day.

Delta Air Lines, Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. Shares of DAL traded higher by 5.62% or $0.57/share to $10.71. In the past year, the shares have traded as low as $7.83 and as high as $12.25. On average, 9658090 shares of DAL exchange hands on a given day and today's volume is recorded at 10642404.