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Delta And Virgin's New Joint Venture

We've been hearing about quite a few joint ventures or partnerships of some sort between airlines lately.  As of now, Delta and Virgin Atlantic announced that they are ready to launch their joint venture between UK and USA.  This alliance will cover flights between UK and USA, which will include the popular NY-London route.  There will be 9 flights each day from the New York area. A good benefit from this will be more convenient schedules and expanded network for customers. 

This joint venture hopefully restore Virgin Atlantic's profitability within either this year or by the beginning of the next.  For the last fiscal year, they had a loss of about $116 million.  This partnership will allow them to take on competition like American Airlines and British Airways.  With many mergers and partnerships happening lately, it is almost a necessity to do the same in order to stay relevant.  What do you guys think?