Yesterday, 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.
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[…] November, Delta announced its intention to up its stake in the carrier to as high as […]