China Eastern Airlines, Delta Airlines, and Air France KLM have partnered, forming a global joint venture which has been consolidated by investments from China Eastern and Delta Airlines in Air France KLM.

Delta and China Eastern will each acquire a 10% stake in Air France-KLM’s share capital totalling 750 million euros (US$880 million) or 375 million euros each. Air France-KLM and China Eastern will step up their commercial cooperation and reinforce their partnership within the framework of the existing joint-venture.

The transaction will seal a long-term partnership to secure Air France-KLM’s access to the Chinese market and give it a European leadership position in Shanghai, the main business market in China.

DLA Piper advised China Eastern Airlines on the deal.

Photo: Aero Icarus/Wikipedia