Air France-KLM, Delta tie-up to reap $12B annually (AP)

PARIS (AP) -- Air France-KLM and Delta Air Lines will reap estimated annual sales of $12 billion from their joint venture on trans-Atlantic routes, the companies said Wednesday....

Delta Air Lines Inc., Air France and KLM signed a deal Wednesday to combine two separate joint venture agreements into one to create a more integrated trans-Atlantic powerhouse that they said will generate $12 billion in annual revenue.

Delta Air Lines Inc., Air France and KLM signed a deal Wednesday to combine two separate joint venture agreements into one to create a more integrated trans-Atlantic powerhouse that they said will generate $12 billion in annual revenue....

Air France-KLM has agreed to jointly operate trans-Atlantic routes with Delta Airlines, sharing revenue and costs for at least 10 years.

BRUSSELS — Lufthansa, United Airlines and Air Canada are set to win approval from the European Union’s competition regulator for their transatlantic tie-up with their offer to give up airport slots, a person familiar with the matter said on Wednesday. The three airlines last year proposed giving up landing and take-off slots at Frankfurt and New York’s airports following a three-year investigation by the European Commission into their revenue-sharing, pricing and capacity pacts. The EU antitrust authority sought feedback from rivals and third parties in December last year.

[AP] - Delta Air Lines, Air France-KLM and Alitalia will sharply reduce flights across the Atlantic starting this fall, after airlines added too much flying on those routes just as fuel prices shot up.

(Reuters) - Delta Air Lines will cut capacity on trans-Atlantic routes 5 percent after Labor Day, airline President Ed Bastian said on Thursday. Speaking on a webcast of a Merrill Lynch transportation conference, Bastian said the company's total full-year capacity -- the number of seats it sells -- will be down 3 percent to 4 percent. The second-largest U.S. airline had previously said it would cut its 2012 capacity 2 percent to 3 percent. The airline industry has been battered in recent years by soaring fuel costs. ...