financetom
Business
financetom
/
Business
/
Delta Air, Riyadh Air unveil strategic partnership
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Delta Air, Riyadh Air unveil strategic partnership
Jul 9, 2024 1:09 PM

CHICAGO, July 9 (Reuters) - Riyadh Air has partnered

with U.S. carrier Delta Air Lines ( DAL ) as the Saudi startup

carrier grows its potential network ahead of launching

commercial operations next year, the airlines said on Tuesday.

Riyadh Air, owned by Saudi sovereign wealth fund PIF, will

be a second national airline, based in the capital Riyadh,

alongside existing flag carrier Saudia, based in Jeddah.

Under the agreement, Atlanta-based Delta will serve as

Riyadh Air's exclusive partner in North America, offering its

customers access to hundreds of U.S. destinations.

For Delta's customers, the partnership will open new

destinations in Saudi Arabia, the airlines said. The U.S.

carrier also plans to launch future nonstop service to Riyadh.

Currently, no U.S. airline files to Saudi Arabia.

Delta's first partnership with a Gulf carrier marks a

shift from the last decade when the Atlanta-based airline along

with United and American Airlines ( AAL ) lobbied to

curb competition from Gulf state carriers.

In 2022, however, United unveiled a codeshare agreement

with Dubai's Emirates. American Airlines ( AAL ) has a similar

arrangement with Qatar Airways.

The tie-up between Delta and Riyadh Air envisions

codesharing, which will allow them to sell seats on each other's

flights, but will require regulatory approvals.

In the future, the two carriers plan to expand the

partnership into a joint venture, allowing collaboration on

network planning. Such an arrangement would require immunity

from antitrust laws.

Currently, Delta has joint ventures with Air France-KLM

, British airline Virgin Atlantic, Chile's LATAM

Airlines and Korean Air.

Riyadh Air is trying to build its network through a series

of bilateral partnerships and code shares rather than relying

purely on its own planes, or joining a formal airline alliance.

Last month, it announced partnerships with Singapore

Airlines and Air China.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
--Peloton Eyed for Potential Buyout by Private-Equity Firms, CNBC Says
--Peloton Eyed for Potential Buyout by Private-Equity Firms, CNBC Says
May 7, 2024
08:37 AM EDT, 05/07/2024 (MT Newswires) -- Price: 4.1900, Change: +0.65, Percent Change: +18.36 ...
Rock Tech Lithium Says Won't Get Funds from German Federal Battery Subsidy Program
Rock Tech Lithium Says Won't Get Funds from German Federal Battery Subsidy Program
May 7, 2024
08:39 AM EDT, 05/07/2024 (MT Newswires) -- Rock Tech Lithium ( RCKTF ) , which fell 9% on Monday, early on Tuesday said it will not receive funds from Germany's federal subsidies program for battery cell manufacturing because of budget constraints. Negotiations to finalize financing programs will continue with the state of Brandenburg regarding Rock Tech's planned lithium refinery there....
Enpro's Q1 Adjusted Earnings, Net Sales Decline
Enpro's Q1 Adjusted Earnings, Net Sales Decline
May 7, 2024
08:39 AM EDT, 05/07/2024 (MT Newswires) -- Enpro ( NPO ) reported Q1 adjusted earnings Tuesday of $1.57 per diluted share, compared with $1.95 a year earlier. Three analysts surveyed by Capital IQ expected $1.54. Net sales for the quarter ended March 31 were $257.5 million, compared with $282.6 million a year earlier. Three analysts surveyed by Capital IQ expected...
Market Chatter: Peloton Eyed for Potential Buyout by Private-Equity Firms
Market Chatter: Peloton Eyed for Potential Buyout by Private-Equity Firms
May 7, 2024
08:39 AM EDT, 05/07/2024 (MT Newswires) -- Several private-equity companies have been considering a buyout of Peloton (PTON), which has recorded 13 consecutive quarters of losses, CNBC reported Tuesday. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price:...
Copyright 2023-2025 - www.financetom.com All Rights Reserved