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

"Later today Air France-KLM and Delta Air Lines will be signing a global joint venture agreement in which the parties will jointly operate trans-Atlantic routes. In a joint press release the SkyTeam Alliance carriers say the joint venture agreement will be signed today and it will account for 25% of total trans-Atlantic capacity. Under the agreement the parties "will jointly operate the trans-Atlantic routes, share revenues and costs." The agreement will also cover all the partners' flights between Amsterdam and India and North America and Tahiti, it says, adding that the joint-venture is expected to have annual revenue of $12 billion." next.