Delta says US approves joint venture with Korean Air

Delta Air Lines says U.S. regulators have given the green light to a joint venture with Korean Air, and the carriers are waiting for approval from the South Korean government.

Delta said Friday that the U.S. Department of Transportation approved the arrangement. It still needs approval from South Korea's transport ministry.

With antitrust immunity, the airlines can share costs and revenues from flights.

Delta says the airlines will sell seats on more of each other's flights and allow customers to earn and redeem frequent-flyer miles on both carriers.

Joint ventures have become common since the first one involving Northwest Airlines and Dutch carrier KLM in 1997. The largest U.S. airlines have antitrust immunity for partnerships with Asian and European airlines.