Delta Air Lines has successfully completed its previously announced tender offer and has acquired a 20% equity stake in LATAM Airlines Group S.A for approximately US$1.9 billion., an important milestone toward bringing together the leading airlines in North and South America. This investment continues Delta’s strategy of making equity investments in key airline partners around the globe.
In September, Delta and LATAM announced a strategic partnership, including the now completed 20% equity investment and also a commercial joint venture. Once fully implemented, this partnership will unlock growth opportunities for both airlines and offer significantly expanded travel options for customers, with access to 435 destinations worldwide.
Most recently, the carriers announced that they will initially launch codesharing for flights operated by certain LATAM affiliates in Colombia, Ecuador and Peru beginning in the first quarter of 2020. The codeshare will offer customers increased connectivity between up to 74 onward destinations in the United States and up to 51 onward destinations in South America.
