Delta to Buy 20 Percent Stake in LATAM, Latin America’s Largest Airline

As a result of the deal, Delta will sell its stake in Brazil’s largest airline Gol, a LATAM rival. The LATAM deal is Delta’s largest since it merged with Northwest Airlines a decade ago.

RIO DE JANEIRO, BRAZIL - (Reuters) Delta Air Lines said on Thursday, September 26th, it would buy a 20 percent stake in LATAM Airlines Group for US$1.9 (R$8) billion, creating a major new airline partnership and ending the Chilean-Brazilian carrier’s ties with American Airlines.

The surprise deal with Latin America’s largest carrier will give Delta a much bigger footprint in the region, a key growth market in which LATAM flies to dozens of destinations including cities in Argentina, Peru and Brazil.

The LATAM deal is Delta’s largest since it merged with Northwest Airlines a . . .

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