Phildelphia
http://admin.travelmole.com/images/stories/2009/images/LATAM_Chile(1).jpg

Published on Friday, September 27, 2019

Delta to take stake in LATAM






Delta Air Lines has agreed to take a 20% stake in Latin America's largest airline LATAM.


Delta will spend about $1.9 billion for a fifth-share of the Chile based airline group which strikes a blow to American Airlines.


American had been looking to boost its presence across the region with a joint-venture business agreement with LATAM, although it had been blocked by a Chilean court.


Delta said it will sell its existing 9% stake in Brazilian airline Gol as a result.


Gol competes with LATAM on several routes.


The stake sale still needs approval from US and Chilean regulators.


Announcing the transaction, Delta CEO Ed Bastion said: "Our people, customers, owners and communities will all benefit from this exciting platform for future growth." 


Delta will also spend an additional $350 million to expand the LATAM partnership which includes ordering more aircraft.


"This alliance with Delta strengthens our company and enhances our leadership in Latin America," said LATAM CEO, Enrique Cueto Plaza.

Story Image



Your Comments

, be the first to post a comment.
Your email:






Email other comments made to this story


NOTE: Comments are subject to admin approval before being posted.
Mole Poll
Has the announcement of a UK quarantine further hit bookings?
YES 56.97 %
NO 43.03 %

Thank you for your vote



What is GoodtoGo?

Submit your news
or special offer


Current UK Special Edition



Current US Special Edition



Current Asia/Pacific Special Edition



LATEST 'MOLE VIDEOS

Malta prepares to open up to the world

Iceland plans to launch new UK trade initiative

Mario Hardy, CEO PATA - Who dares, wins: Who will hit the reset button?

The Florida Keys is open for business ! Find out the details here

UPCOMING EVENTS
\m