Delta to Buy 20% of LATAM for $1.9B in Surprise Deal
Delta Air Lines announced a deal today to buy a 20% stake in LATAM Airlines Group for $1.9 billion, creating a major new airline partnership. The investment also shakes up the Chilean carrier’s longtime ties with American Airlines.
The surprise deal is the largest for Delta Air Lines, since its merger with Northwest Airlines a decade ago.
LATAM has been a member of the Oneworld alliance since 2000. Atlanta based Delta Ait Lines is part of the Sky Alliance
The two airlines can start code-sharing before they receive government, regulatory and anti-trust approval for the larger tie-up, a process that can take between 12 and 24 months.