Brazilian airline GOL says Delta Air exits stake

Brazil’s GOL Linhas Aereas Inteligentes said late Tuesday that Delta has sold more than 32.9m shares it held in the company, a few months after the Atlanta-based airline announced its decision to exit stake. Delta’s decision to sell its stake was expected, following its acquisition of a 20% stake in GOL competitor LATAM Airlines Group SA for $1.9b in September. The deal with LATAM Airlines was Delta’s largest since it merged with Northwest a decade ago, and ended the Chilean carrier’s ties with American Airlines Group. Delta’s deal with Latin America’s largest carrier would give it a bigger footprint in the region, where American Airlines has been leading the charts.<br/>