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Delta Air Lines Strengthens Relationship with Korean Air
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In a bid to expand its presence in Asia, Delta Air Lines (DAL - Free Report) inked a memorandum of understanding with Korean Air to implement a joint venture arrangement. This customer-friendly deal, which becomes effective following regulatory approvals, will see the carriers sharing the costs and revenues on flights apart from coordinating schedules to enhance connectivity between the U.S. and Asia.
In fact, this new trans-Pacific deal has resulted in the formation of a huge network covering in excess of 290 and 80 destinations in the Americas and Asia, respectively. Additionally, it provides benefits to reciprocal frequent flyers as the carriers aim to increase traffic amid increased competition. Notably, both these carriers are among the four founding members of the SkyTeam alliance in 2000.
Delta has been looking to strengthen its Asian presence for quite some time. To this end, it aims to operate non-stop flights connecting Atlanta and Seoul from June. The company will utilize a 291-seat, Boeing 777-200LR aircraft for operating the flights between the two cities. Further, the flights complementing Korean Air’s current operations on this route, are aimed to provide greater choice for travel between the U.S. and China.
In addition, this Zacks Rank #3 (Hold) company had shelled out $450 million to own 3.55% of China Eastern Airlines (CEA - Free Report) , in 2015. In fact, the highly lucrative Asian aviation market has attracted Delta’s rival, American Airlines Group (AAL - Free Report) , too. Recently, American Airlines Group also signed a deal with China Southern Airlines (ZNH - Free Report) to buy a minority stake in the latter. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Delta Air Lines Strengthens Relationship with Korean Air
In a bid to expand its presence in Asia, Delta Air Lines (DAL - Free Report) inked a memorandum of understanding with Korean Air to implement a joint venture arrangement. This customer-friendly deal, which becomes effective following regulatory approvals, will see the carriers sharing the costs and revenues on flights apart from coordinating schedules to enhance connectivity between the U.S. and Asia.
In fact, this new trans-Pacific deal has resulted in the formation of a huge network covering in excess of 290 and 80 destinations in the Americas and Asia, respectively. Additionally, it provides benefits to reciprocal frequent flyers as the carriers aim to increase traffic amid increased competition. Notably, both these carriers are among the four founding members of the SkyTeam alliance in 2000.
Delta Air Lines, Inc. Price
Delta Air Lines, Inc. Price | Delta Air Lines, Inc. Quote
Delta has been looking to strengthen its Asian presence for quite some time. To this end, it aims to operate non-stop flights connecting Atlanta and Seoul from June. The company will utilize a 291-seat, Boeing 777-200LR aircraft for operating the flights between the two cities. Further, the flights complementing Korean Air’s current operations on this route, are aimed to provide greater choice for travel between the U.S. and China.
In addition, this Zacks Rank #3 (Hold) company had shelled out $450 million to own 3.55% of China Eastern Airlines (CEA - Free Report) , in 2015. In fact, the highly lucrative Asian aviation market has attracted Delta’s rival, American Airlines Group (AAL - Free Report) , too. Recently, American Airlines Group also signed a deal with China Southern Airlines (ZNH - Free Report) to buy a minority stake in the latter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>