Delta Buys Virgin Atlantic Stake

    A Delta Airlines plane taxis past a gate at Logan Airport in Boston Tuesday, Jan. 24, 2012. Delta Air Lines said Wednesday, Jan. 25, 2012, it earned $425 million in the fourth-quarter as it raised prices in the critical holiday season and the airline reduced flying to keep costs low.  (AP Photo/Charles Krupa)

    Charles Krupa / AP Photo

    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.

    Read it at Reuters