Delta Buys Virgin Atlantic Stake

Does Virgin want to get in on the “doesn’t ever leave the airport” jokes? Delta Airlines announced plans on Tuesday to buy a 49 percent stake in Virgin Atlantic for $360 million from Singapore Airlines. The deal is still subject to U.S. regulatory clearance. Singapore Airlines bought a 49 percent stake in Virgin for £600 million in 1999, but the last 12 years have been disappointing, and the sale indicates a move toward refocusing on Asia.