According to Yonhap News,
(SEOUL=Yonhap News) Korean Air Lines Co. and Delta Air Lines on Wednesday agreed to set up a joint venture on trans-Pacific routes in an expanded partnership to enhance customer convenience.
The companies said in a joint statement that the initial agreement reached near Incheon International Airport in South Korea will strengthen their competitiveness and improve service to customers.
"This agreement deepens our long-standing partnership with Korean Air and will provide the global access and seamless service our customers demand," said Delta CEO Ed Bastian. "We look forward to providing customers of both carriers with industry-leading service between the U.S. and Asia."
Korean Air Chairman and CEO Cho Yang-ho said the deepening partnership will allow its customers to enjoy more convenient connection schedules and to widen their opportunities in earning mileage points.
The agreement, subject to regulatory approval, includes the intent to create a fully integrated trans-Pacific joint venture arrangement, with both airlines sharing the costs and revenues on flights and coordinating schedules and combining networks.
On signing the final joint venture agreement the airlines will work together to implement all aspects of the enhanced co-operation including expanded codesharing, frequent flier programs and joint growth in the trans-Pacific market, the statement said.
In this photo taken on March 29, 2017 and provided by Korean Air Lines, Walter Cho, president and COO of Korean Air; Cho Yang-ho, chairman and CEO of Korean Air; Ed Bastian, CEO of Delta Air Lines; and Steve Sear, executive vice president in charge of global sales at Delta, join the initial signing for a joint venture on trans-Pacific routes in a hotel near Incheon International Airport. (Yonhap) In this photo taken on March 29, 2017 and provided by Korean Air Lines, Walter Cho, president and COO of Korean Air; Cho Yang-ho, chairman and CEO of Korean Air; Ed Bastian, CEO of Delta Air Lines; and Steve Sear, executive vice president in charge of global sales at Delta, join the initial signing for a joint venture on trans-Pacific routes in a hotel near Incheon International Airport. (Yonhap)
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Source: Yonhap News (Mar. 29, 2017)