'Big chaos' coming as lack of air freight capacity will see peak season rates soar
Forwarders are predicting ‘big chaos’ and very high rates in the coming air peak season, ...
Interesting news from Delta, Virgin Atlantic and Air France-KLM. They plan to invest in each other and set up a transatlantic joint-venture, which is likely at some point to include cargo. AF-KLM is buying 31% of Virgin, which is already 49% owned by Delta.
The 31% is being bought from Richard Branson, who will continue to hold 20% and maintain his role as chairman.
In turn, Delta is going to buy 10% of AF-KLM. The three are asking for regulatory approval for the joint-venture. Meanwhile, fellow SkyTeam member China Eastern is also going to buy 10% of AF-KLM. The two investments in the Franco-Dutch airline would amount to some €751m. ATW has the full story.
Of course, the effect of these new partnerships on customers remains to be seen. Forwarders have told The Loadstar they tend to see little tangible effect from airline joint-ventures, which seem to be designed for the airlines’ benefit, rather than theirs.