Delta Air Lines to Increase Stake in Aeromexico

By Jesse Sokolow on 19 November 2015
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DSC_5025Delta Air Lines said Wednesday it plans to acquire up to an additional 32% in Grupo Aeromexico. The move would enhance the alliance between the two airlines, which began in 1994 with a codeshare.

The Atlanta-based carrier currently has a 4.1% stake in the Mexican airline and holds an option to acquire an additional 8.1%. The Delta pension trust currently holds options allowing it to acquire 4.6% of Grupo Aeromexico.

After the transaction, which is subject to regulatory approval, closes, Delta and the Delta pension trust would either own or have options to acquire up to a 49% stake in Grupo Aeromexico.

“This new investment demonstrates Delta’s confidence in Mexico’s future and deepens our relationship with Aeromexico,” said Ed Bastian, Delta’s president.Aeromexico said its board of directors and audit and corporate practices committee would review the proposal.

(Photo: Accura Media Group)

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