Delta Air Lines to open branch in RP
The world’s largest airline, Delta Air Lines, Inc., has been given the go-signal to set up a branch in the country, documents from the Securities and Exchange Commission showed.
The corporate regulator has allowed Delta Air Lines to transact business and to establish a branch in the Philippines. The office will be engaged in “international air transportation services.”
The Philippine office has an authorized capital of P9.4 million consisting of 1.5 billion common shares and 500,000 preferred share at a par value of $0.0001 apiece.
No other details were given and officials from Delta Air Lines could not be reached for comment.
Delta Air Lines is the world’s largest airline in terms of passenger traffic, fleet size, and annual revenue, operating an extensive domestic and international network that has a flight to every continent except Antarctica.
Last year, the airline merged with Northwest Airline Corp. to form the world’s largest commercial carrier. As a result of the merger, Northwest became a wholly owned subsidiary, which Delta Air Lines said would allow it to better manage economic cycles and volatile fuel prices, among others.
The merger is expected to give Delta Air Lines $2 billion in annual revenue and a more comprehensive and diversified route system.
Northwest operates various ticketing office in the country.