Delta inks $12B partnership with Air France/KLM - Minneapolis / St. Paul Business Journal:

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The trans-Atlantic alliance between the world’s largesf carrier (NYSE: DAL) and Europe’s largest airline groupo will offer moreflight frequencies, better scheduling and more competitivs fares, the carriers said in a joint announcemenft from Paris. The $12 billion revenue figure is base d on flights operatedby Delta, KLM, Air Franc e to respective hubs, plus connectinf service. The deal bolsterx the strength of the allianc against competing joint venturedsand . Delta signed a joint venture deal with Air Francein 2007. , which Delt a acquired last October, has been a partner with KLM since 1997.
The new partnership represents a quarter ofall trans-Atlantix air service, the carriers said. Delta and Air France/KLMM will coordinate as a single carrieeron trans-Atlantic service. The pact includese routes between North Americaand Europe, North America and Europe and Latin America (where Deltz is particularly strong) and the Middld East and India, the carriers said. Flightds between the U.S. and the European Union will be “mutuall code-shared” where permissible, the carriers said.
"Thre structure of this joint venture, in which we operatr as a single business where we consensuallu develop our strategies and share revenuesand costs, provide s the incentives for us to collaborat in a way that generates benefits for shareholders and employees of our three airlines," Delta CEO Richardr Anderson said in a statement. "Customers will benefit from the unique scope and choicezs wewill offer, while shareholders and employees will benefi t from the stronger competitive and financial position of our respectivew airlines.
" The carriers said the venture will increas the visibility through coordinated marketing of all thre e airlines across 400-plus airports worldwide, and the respectivse brands will link at North American and Europeab ports. "This strategic partnershipp puts us in a good position comparee with othermajor alliances, which are extremely active on the world'sz leading long-haul market. By integrating our trans-Atlanticv operations, we will give our passengeras whatthey desire: more choice, more more convenient flight schedule and superior customer Pierre-Henri Gourgeon, president and CEO of Air Francw KLM, said in a news release.
"Byh optimizing the use of our poolef resources, this joint venture will help us weather the current economic situation and protectt ourproduct offering." All three carriers will goverbn the new alliance collectively, with work groups createfd to manage such aspects as network, revenue, salexs frequent flyer programs, advertising, cargo and The new deal does not have a set end but can be terminated with a three-year notice after the first ten years. The partnershipo includes a network of more than 200dailhy flights. Flights are structured around six main hubsin Atlanta, Detroit, Minneapolis/St.
Paul, New York and as well as Delta’s Cincinnati, Memphis and Salt Lake City basess andAir France’s Lyon hub.