Delta Air Lines completes 20% acquisition of LATAM
Delta Air Lines says it has successfully acquired the 20% equity stake in LATAM airlines group for US$1.9b, completing a deal it had announced earlier this year. In September, Delta and LATAM unveiled a strategic partnership, which the airlines say promises to “unlock growth opportunities for both airlines and offer significantly expanded travel options for customers, with access to 435 destinations worldwide”. Following a Chilean court’s decision to deny American Airlines a proposed joint venture with LATAM in May, Delta jumped in to invest the $1.9b for 20% of the Latin American airline. The aim was to gain a greater foothold in the heavily contested North America-South America market. Subsequently, LATAM left oneworld leaving American without a major partner in what had traditionally been its strongest region. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-12-31/sky/delta-air-lines-completes-20-acquisition-of-latam
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Delta Air Lines completes 20% acquisition of LATAM
Delta Air Lines says it has successfully acquired the 20% equity stake in LATAM airlines group for US$1.9b, completing a deal it had announced earlier this year. In September, Delta and LATAM unveiled a strategic partnership, which the airlines say promises to “unlock growth opportunities for both airlines and offer significantly expanded travel options for customers, with access to 435 destinations worldwide”. Following a Chilean court’s decision to deny American Airlines a proposed joint venture with LATAM in May, Delta jumped in to invest the $1.9b for 20% of the Latin American airline. The aim was to gain a greater foothold in the heavily contested North America-South America market. Subsequently, LATAM left oneworld leaving American without a major partner in what had traditionally been its strongest region. <br/>
