The new agreement will enhance code-sharing, link frequent flier points and bring Korean Air and Delta gates closer together in airports.
Pending regulatory approval, Delta and Korean Air will share costs and revenues associated with flights operated within the venture, but no equity will change hands.
Delta has struggled to maintain Asian market share. It unsuccessfully attempted to forge a partnership with Japan Airlines in 2010 to take away from their existing relationship with American Airlines Group (AAL - Get Report) . Delta has no partner in Japan.
Delta stock was slightly up to $52.87 in post-market trading on Friday.
What's Hot On TheStreet:
Well OK then, Jeff Immelt: General Electric's (GE - Get Report) outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet's Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger's (KR - Get Report) CEO might have made about Amazon (AMZN - Get Report) who as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.
Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it's that friend across the boarder that has played a large role in its demise, TheStreet's Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.
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