Air France, Delta Forming Joint Venture for Trans-Atlantic Flights

Air France, Delta Forming Joint Venture for Trans-Atlantic Flights

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Photo Courtesy Delta Airlines PARIS (AP) -- Air France-KLM and Delta Air Lines Inc. are forming a joint venture that will allow them to share profits and up to an estimated $8 billion in revenue on trans-Atlantic routes.

The move announced today follows the new Open Skies agreement on air traffic between the United States and Europe.

The joint venture will launch in April and have estimated annual revenue of $1.5 billion in its first phase and $8 billion in the second phase, the companies said in a statement.

It will cover nonstop flights operated by Air France-KLM and Delta between several European and U.S. hubs of the two carriers.

The announcement came the day after Delta reported a larger third-quarter profit and its chief executive said the carrier said a deal with another airline may be in its best interest.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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