Delta increasing stake in Aeromexico
Friday, 20 Nov, 2015
0
Delta Air Lines is set to acquire an increased stake in Grupo Aeromexico as the two airlines deepen their partnership on routes between the US and Mexico.
Delta currently owns 4.1% and plans to acquire another 32% through a cash tender offer.
Along with separate entity Delta Pension Trust, it would have an option to acquire up to 49% of the outstanding shares of Grupo Aeromexico.
Delta said it will move forward with the transaction once it obtains regulatory approvals in Mexico and the United States.
"This new investment demonstrates Delta’s confidence in Mexico’s future and deepens our relationship with Aeromexico, cementing Delta’s long-term commitment to the customers we serve to, from and through Latin America," Delta president Ed Bastian said in a statement.
Delta has held a shareholding in Aeromexico since 2012 when it invested an initial $65 million.
The two airlines began codesharing in 1994 an in March this year asked for antitrust immunity to establish a joint venture on US-Mexico routes
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025