Delta Air Lines Completes Purchase of 20% Stake in LATAM
Earlier this year, Delta Air Lines announced plans to purchase a 20% stake in Latin America’s largest airline, LATAM.
Now Delta Air Lines has successfully completed the announced tender offer for approximately $1.9 billion., an important step to bringing together two leading airlines in North and South America.
Delta Air Lines says that this is part of a strategy of making equity investments in key airline partners around the globe.
“We look forward to working with LATAM to create a truly world-class partnership that will give our customers unparalleled access throughout the Americas,” said Steve Sear, Delta President — International and Executive Vice President — Global Sales. “Equity investments like this help create alignment within our partnerships as we bring together our brands, enabling us to provide the very best service and reliability for our shared customers.”
Earlier this month, the carriers announced a codesharing agreement for Delta’s North America routes and LATAM’s routes in Peru, Colombia and Ecuador. The agreement goes into effect in the first quarter of 2020.