Delta Announces Partnership with LATAM Airlines
Delta and LATAM Airlines Group have entered into a strategic partnership, combining the strength of the leading airlines in North and Latin America for the first time.
The partnership will unlock new growth opportunities by building upon Delta’s and LATAM’s global footprint and joint ventures worldwide, including Delta’s existing partnership with Aeroméxico.
With their complementary networks, Delta, LATAM and their partners will be able to offer access to an even wider array of worldwide destinations. In addition, the partnership will provide greater customer convenience and a more seamless travel experience, better connecting customers with the rest of the world.
Key details of the partnership include:
- Delta will invest $1.9 billion for a 20 percent stake in LATAM
- Delta will also invest $350 million to support the establishment of the strategic partnership.
- Delta will acquire four A350 aircraft from LATAM and has agreed to assume LATAM’s commitment to purchase 10 additional A350 aircraft to be delivered beginning in 2020 through 2025, supporting Delta’s ongoing fleet transformation.
- Delta will be represented on LATAM’s Board of Directors, further strengthening the relationship.
The tender offer and strategic partnership are subject to customary closing conditions and all required governmental and regulatory approvals, including anti-trust immunity.
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