Aeromexico Board Reviewing Delta Offer

by Adam

Last week, Aeromexico said its board of directors “agreed to review Delta’s public offer at the right time in light of applicable regulations. The statement came after Delta said that it intends to acquire an additional 32%  stake in Aeroméxico to solidify its partnership with the carrier. The airline already owns a 4.1% stake and holds options to acquire another 8.1%, while the Delta pension trust has options for another 4.6%.

Delta and Aeroméxico launched their first codeshare in 1994. In 2011, Delta entered into an enhanced commercial agreement with Aeroméxico, and in 2012, Delta invested USD$65 million in shares of Grupo Aeroméxico, the parent company of Aeroméxico. In March, Delta and Aeroméxico filed an application with the U.S. Department of Transportation seeking antitrust immunity for a new joint venture on flights between the United States and Mexico. Aeroméxico generated 54% of sales from flights to North America and other markets outside of Mexico.

“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.

Related:

Delta-Aeromexico

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