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Tuesday, October 21, 2014

Air France KLM, Delta, Alitalia offer concessions to settle EU probe, (NYSE: DAL)

Skyteam alliance partners Air France KLM, Delta Air Lines and Alitalia have offered to give up slots at three airports and made other concessions to try to settle an EU antitrust investigation, the European Commission said on Tuesday.The carriers found themselves in the Commission's sights in January 2012, after the EU competition authority said their alliance, involving profit-sharing and joint management of prices and capacity, may push up prices on the Paris-New York, Amsterdam-New York and Rome-New York routes.The Skyteam alliance, which allow its 20 member airlines to team up via code-sharing agreements to boost the number of flights they offer to certain destinations, competes with Oneworld and Star Alliance.The Commission said the three carriers offered to give up slots at Amsterdam, New York and Rome airports.

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 4.8% or $1.65/share to $36.04. In the past year, the shares have traded as low as $25.26 and as high as $42.66. On average, 13413400 shares of DAL exchange hands on a given day and today's volume is recorded at 19952056.