“LONDON—Virgin Atlantic Airways Ltd., which last month linked with Delta Air LinesInc., DAL +0.69% deepened its ties to the U.S. aviation market by selecting American Airlines veteran Craig Kreeger as its new chief executive.
Mr. Kreeger, 53, succeeds current CEO Steve Ridgway who is retiring from the airline next month after 23 years, the last 11 as chief executive. Mr. Ridgway will work alongside Mr. Kreeger until then.
The announcement comes just a month after U.S. carrier Delta Air Lines Inc. agreed to buy Singapore Airlines Ltd.’s C6L.SG +0.55% 49% stake in Virgin Atlantic Airways Ltd. for $360 million. The deal boosts the position of Delta, the No. 2 U.S. carrier by traffic, at London’s congested Heathrow Airport. The move continued a run of cut-price deals to expand Delta’s global network.
With the partnership, Delta and Virgin Atlantic will have 36% of the business on the imporant New York-London route, coming much closer to the 51% controlled by a joint venture of British Airways IAG.MC +0.21% and American, a unit of AMR Corp.AAMRQ -1.12% United Continental Holdings Inc. UAL -0.35% would fall to third place with 13% of the market, according to Buckingham Research Group.
“We are thrilled to welcome Craig to Virgin Atlantic—he is the right person to succeed Steve Ridgway at this dynamic and challenging time for our airline,” said Virgin Atlantic’s president and founder, Richard Branson….”
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