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The Boston Globe

Business

Delta lifts N.Y.-London service with stake in Virgin Atlantic

NEW YORK — Delta Air Lines will buy 49 percent of Virgin Atlantic for $360 million as it tries to catch up to rivals in the lucrative New York-London travel market.

Delta said Tuesday that it plans to form a joint venture with Virgin Atlantic so they can sell seats on each other’s flights, share costs and profits, and set flight schedules in ways that help both airlines. American Airlines has a similar deal with British Airways.

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