Delta intents to acquire additional shares of Grupo Aeromexico

Delta Air Lines intends to acquire up to an additional 32% of the outstanding capital stock of Grupo Aeromexico S.A.B. de C.V. (AEROMEX.MX) through a cash tender offer for MXP$43.59 per share. This investment will strengthen the airlines’ partnership and provide more travel options for customers in the U.S. and Mexico. Currently, Delta owns approximately 4.1% of the outstanding shares of Grupo Aeromexico and holds an option to acquire an additional 8.1%. Separately, the Delta pension trust holds options to acquire approximately 4.6% of Grupo Aeromexico. Following completion of the tender offer, Delta and the Delta pension trust collectively would own and/or have options to acquire up to a total of 49% of the outstanding shares of Grupo Aeromexico. Delta intends to commence the tender offer once required regulatory approvals in Mexico and the United States have been obtained. The tender offer will be subject to terms to be disclosed and customary closing conditions, including the acquisition by Delta of a minimum number of shares in the tender offer. The transaction also is subject to approval by the Boards of Directors of Delta and Grupo Aeromexico.