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Tuesday, February 7, 2023

Delta to invest $1.2 billion in Aeromexico, LATAM, Virgin Atlantic

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Delta Air Lines has announced plans to invest $1.2 billion in three reformed airlines, two Latin American carriers, and one UK carrier.

Delta Air Lines wants to invest in Aeromexico, Mexico’s flag carrier, Chile’s LATAM, and British carrier Virgin Atlantic when the airlines emerge from bankruptcy and restructuring, according to an official statement dated December 13, 2021.

Delta is aiming for a 20% share in Aeromexico and a 10% equity stake in LATAM following the latest announcement.

The US flag carrier’s 49 percent ownership stake in Virgin Atlantic will also be maintained.

Delta Air Lines CEO Ed Bastian said in a statement that the company’s “strategic investments” in the three carriers will help the airline “provide a seamless travel experience.” According to Bastian, the move will allow the corporation to expand its business across North America and “prime markets throughout the world.”

While waiting for international air travel demand to resume, the Atlanta-based airline expects that the move will improve its current network.

“The work each of our partners has done to strengthen their businesses for the future makes these partnerships even more valuable and creates a new era of international travel to benefit our customers, our employees, and our investors as global travel rebounds in 2022 and beyond,”  Bastian stated.

“Throughout the pandemic, Delta has continued to invest in our future, including new aircraft orders, accelerating real estate projects, and putting significant resources into health and safety measures to protect our employees and our customers,” said Dan Janki, Delta’s chief financial officer.

In 2017, Delta Air Lines and Aeromexico inked a Joint Cooperation Agreement, cementing their relationship.

Delta has benefited from a large worldwide network of over 40 business and leisure travel routes as a result. Since 2013, the airline has also been in a joint venture with Virgin Atlantic.

This collaboration allowed the American carrier to provide consumers with crucial routes linking the United States with the United Kingdom.

This includes a route connecting New York’s John F. Kennedy International Airport (JFK) and London’s Heathrow Airport (LHR), which is quite popular with business passengers.

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