ATLANTA and SEOUL, South Korea, June 23, 2017 /PRNewswire/ -- Delta
Air Lines (NYSE: DAL) and Korean Air have reached an agreement to
create a leading trans-Pacific joint venture in both scope and
service, offering an enhanced and expanded network,
industry-leading products and service and a seamless customer
experience between the U.S. and Asia. The agreement, signed today, deepens
their historic partnership, which spans nearly two
decades.
"Together, Delta and Korean Air are building a world-class
partnership that will offer more destinations, outstanding airport
facilities and an unmatched customer experience on the
trans-Pacific," said Ed Bastian,
Delta's CEO. "By combining the strengths of our two
companies, we are building a stronger airline for our employees,
customers and investors."
"Now is the right time for this JV. The synergies we're
creating will build stronger and more sustainable companies, and
this is good for travelers, our companies and our countries," said
Korean Air Chairman, Y.H.
Cho.
The agreement is the latest expansion of the longstanding
partnership between Delta and Korean Air, which began in 2000 when
both carriers became co-founders of the SkyTeam global airline
alliance. This agreement follows the airlines' signing of a
memorandum of understanding in March announcing the intention to
form a joint venture.
The joint venture will create a combined network serving
more than 290 destinations in the Americas and more than 80 in
Asia, providing customers of both
airlines with more travel choices than ever before. The joint
venture will augment the two airlines' capabilities in the
trans-Pacific market and provide the necessary scale and scope to
compete in this market.
Delta and Korean Air will lay the groundwork for
implementing all aspects of the joint venture, subject to
regulatory approvals, including:
- Expanded codesharing in the trans-Pacific
market
- Joint sales and marketing initiatives in Asia and the United
States
- Colocation at key hubs with seamless passenger and
baggage transit experience
- Enhanced frequent flyer benefits, providing customers of
both airlines the ability to earn and redeem miles on Delta's
SkyMiles and Korean Air's SKYPASS programs.
- Increased belly cargo cooperation across the
trans-Pacific.
Under the agreement, the airlines will also share costs
and revenues on flights within the scope of the joint venture as
they work to expand service options for travelers.
In anticipation of the joint venture, Delta recently
launched new nonstop service between Atlanta and Seoul. This flight complements Korean
Air's existing service and provides customers in the U.S. with
greater access to destinations across Asia. At the same
time Korean Air will continue to expand its U.S. – Korea network in
summer 2017 with the introduction of a third roundtrip flight
between Los Angeles and
Seoul, as well as a second flight
between San Francisco and
Seoul.
For further information about Delta Air Lines or Korean
Air log onto delta.com or koreanair.com.
About Delta
Delta Air Lines serves
more than 180 million customers each year. In 2017, Delta was named
to Fortune's top 50 Most Admired Companies in addition to being
named the most admired airline for the sixth time in seven years.
Additionally, Delta has ranked No.1 in the Business Travel News
Annual Airline survey for an unprecedented six consecutive years.
With an industry-leading global network,
Delta and the Delta Connection carriers
offer service to 335 destinations in 62 countries on six
continents. Headquartered in Atlanta, Delta employs more than 80,000
employees worldwide and operates a mainline fleet of more than 800
aircraft. The airline is a founding member of the
SkyTeam global alliance and participates in the
industry's leading transatlantic joint
venture with Air France-KLM
and Alitalia as well as a joint
venture with Virgin Atlantic. Including
its worldwide alliance partners, Delta offers customers more than
15,000 daily flights, with key hubs and markets including
Amsterdam, Atlanta,
Boston,
Detroit, Los
Angeles, Minneapolis/St.
Paul, New York-JFK and
LaGuardia,
London-Heathrow, Paris-Charles de
Gaulle, Salt Lake
City, Seattle and
Tokyo-Narita. Delta has invested billions of
dollars in airport facilities, global products and services, and
technology to enhance the customer experience in the air and on the
ground. Additional information is available on the
Delta News Hub, as well as
delta.com, Twitter
@DeltaNewsHub,
Google.com/+Delta, and
Facebook.com/delta.
About Korean Air
Korean Air, is one of the world's top 20
airlines and carried more than 24 million passengers in 2015.
Korean Air operates over 460 flights per day to 129 cities in 46
countries on six continents with a fleet of 177 aircraft including
ten A380s.
With its modern aircraft and over 20,000 professional
employees, Korean Air offers customers convenience and comfort.
Korean Air's award-winning offerings of Korean and international
meals and state-of-the-art inflight entertainment system provide
passengers with a memorable inflight
experience. The airline is a founding member of
the Sky Team airline alliance, which together with its 20 members,
offers its 665 million annual passengers a worldwide system of more
than 17,343 daily flights covering 1,062 destinations in 177
countries.
Korean Air introduced the double-decker A380 aircraft to
its fleet in 2011 and made the interior more spacious than any
other airline, with just 407 seats spread across three classes,
with the top deck dedicated to 'Prestige' business class. The
design also features the world's first onboard 'Duty Free Showcase'
and three bar lounges.
More on Korean Air's programs, routes, frequencies and
partners is available at www.koreanair.com
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SOURCE Delta Air Lines