Delta Air Lines Inc is nearing an agreement to purchase Singapore Airlines' 49 percent stake in Virgin Atlantic, and is expected to agree to a transatlantic joint venture with the British carrier, a source said.Meanwhile, Richard Branson said he planned to keep control of the carrier he set up and said International Airlines Group boss Willie Walsh was misguided for saying the brand would be ditched by Delta."Rumors have been spread in the press that I am planning to give up control of Virgin Atlantic and, according to Willie Walsh ... that our brand will soon disappear. This is wishful thinking and totally misguided," Branson said on Monday.A source familiar with Branson's thinking told Reuters that Virgin Atlantic would form a joint venture on transatlantic flights with Delta if the U.S. carrier bought Singapore Airlines' stake in the British carrier, which Branson set up in 1984.
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 0.2% or $0.02/share to $10.13. In the past year, the shares have traded as low as $7.83 and as high as $12.25. On average, 9685740 shares of DAL exchange hands on a given day and today's volume is recorded at 4931313.
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