According to Delta's press release and media outlets such as the New York Times, Delta Airlines and Virgin Atlantic are forming a new strategic partnership. Delta is acquiring a 49% stake in Virgin that was previously held by Singapore Airlines, who cozied up with Virgin in 2000.

On a pure deal standpoint, Delta got a cheaper price than Singapore. Singapore initially invested over $900 million to acquire the 49%. Delta is paying $360 million for that same stake.

Hilton HHonors-33% Bonus on Membership Rewards Transfers

Per this thread on FlyerTalk, Hilton is offering a 33% bonus when transferring Membership Rewards into Hilton HHonors points. This offer is good for transfers through January 31st. Transfers must be made in increments of 1,000 Membership Rewards points.

Virgin Atlantic-35% Bonus on Membership Rewards Transfers

According to the American Express Membership Rewards website here, Virgin Atlantic is offering a 35% bonus when transferring Membership Rewards into Virgin Atlantic Flying Club miles.

This offer is available through December 29th. Transfers must be made in increments of 1,000 Membership Rewards. The minimum transfer will yield 1,350 Flying Club miles.

 Is this a good deal?
Unfortunately not. Virgin Atlantic features an incredible onboard product and great club lounges.

Four months ago I broke the news that you could redeem Hawaiian Miles for Virgin Atlantic Upper Class without fuel surcharges, thus saving thousands of dollars. See Redeem for Virgin Atlantic Upper Class without Surcharges.

You still can, but the party may be over. The old chart was a solid value and simple to figure out.

The new chart, hat tip to Gary, is much worse.

I don't have any information on what North America East and West are.

Warning: I'm only 90% confident in the information in this post. It took several calls and a few hours on the phone talking to incompetent agents to get this information, so I'll provide it without triple-checking. I invite commenters to check my work.

Virgin Atlantic Upper Class is an incredible business class product by all indications.

Fact: I check eight frequent flier blogs daily. (Just dropped a ninth...)

One of those eight is Mileage Saver by Paul Walia. I love it because his posts take, on average, 10 seconds to read, and he covers all the easy ways to earn miles. The other day, he had a post on how to earn 400,000 Hilton Points in Five Steps.

Some of the cards mentioned in his post are Hilton cards, but some just feature miles that can be transferred to Hilton points.