Delta will invest US$1.2 billion in Aeromexico, Latam Airlines and Virgin Atlantic.
Delta Air Lines will invest $1.2 billion in partner airlines Aeromexico and Latam Airlines, Virgin Atlantic as the U.S. carrier positions itself to capitalize on a rebound in international travel.
Following the transactions, Delta aims to build a 20% equity stake in Grupo Aeromexico SAB and a 10% position in Latam Airlines Group SA, according to a statement issued Monday. The U.S. carrier said it will maintain its 49% stake in Virgin Atlantic Airways Ltd.
→ Agreement between Latam and Delta expands to more than 20 routes in Americas.
“As demand for international travel returns, the connectivity, relevance and breadth of Delta’s global network with its partners remains critical,” the airline said in the statement. “With new widebody aircraft on the way, record hiring and significant investments in international readiness, Delta is positioned to lead the industry through the ongoing recovery.”
The investment underscores the importance of international travel after the industry battled a sharp slowdown during the pandemic. Delta recently expanded its marketing partnership with Latam and has supported Aeromexico’s bankruptcy reorganization following a cooperation agreement signed in 2017, Bloomberg reported.
Atlanta-based Delta said its investments in AFKL, Korean Air and China Eastern will not change.
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