AP source: Delta-Virgin Atlantic deal is close - CBS46 News

AP source: Delta-Virgin Atlantic deal is close

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ATLANTA (AP) -

A person familiar with the negotiations is telling The Associated Press that Delta Air Lines is close to buying a stake in Virgin Atlantic for $300 million to $500 million.

The person spoke on condition of anonymity on Monday because the deal has not yet been announced.

Singapore Airlines owns a 49 percent stake in Virgin Atlantic. Last week it said it was in talks for a possible buyer.

Buying into Virgin Atlantic would give Delta a stronger presence at London's Heathrow airport. New York to London is one of the world's most important travel routes. Delta currently flies fewer flights to Heathrow than its main U.S. competitors, American and United.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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