Delta Buys Virgin Atlantic Stake

Charles Krupa / AP Photo

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.

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.