Delta finalizes USD1.9 billion stake purchase in LATAM
Delta Air Lines says it has completed all formalities in its purchase of 20% of LATAM Airlines Group.
It paid an estimated $1.9 billion for the stake.
"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," said Steve Sear, president – international.
"We look forward to working with LATAM to give our customers unparalleled access throughout the Americas."
The surprise announcement earlier this year of Delta’s interest in LATAM came after American Airlines’ planned joint venture with LATAM was denied by a Chilean court ruling.
LATAM has since exited the Oneworld alliance which American is a member of.
American’s codesharing partnership with LATAM ends on 31 January 2020, and a new one with Delta will begin in the first quarter.
"The codeshare will offer customers increased connectivity between up to 74 onward destinations in the United States and up to 51 onward destinations in South America," Delta said.
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