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Y. J. Foo

DL acquires 20% of LATAM; LATAM to leave OW

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Now this is a rather surprising move, and a rather huge blow for OW's South America presence, should the deal gets pushed through:




Delta Air Lines is expanding its presence in Latin America by spending $1.9 billion for a 20% stake in LATAM, Latin America’s largest airline, a twist for Delta rival American Airlines that had pursued a joint-venture with the Chilean-based carrier to grow revenue in the region.



LATAM will be leaving the OneWorld alliance, but it was not immediately clear whether it would join SkyTeam, the group that includes Delta and its partners.



Regulators in the U.S. and in Chile, where LATAM is headquartered would have to approve the Delta stake.



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