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Delta Air Lines Invests $65 Million in Grupo Aeromexico

June 4, 2012 By: Newswire

Delta Air Lines has invested $65 million in Grupo Aeromexico, marking the first time a global carrier has bought equity in a national Mexican airline, Grupo Aeromexico reports.

The Mexican Federal Compensation Commission (CFC) authorized the operation that allowed Delta Air Lines to underwrite and purchase 30,182,855 shares of stock equivalent to 4.17 percent of Grupo Aeromexico's capital stock, a purchase that also gives Delta a seat on the Grupo Aeromexcio Board of Directors.

"Expanding the business relationship with our main partner and attracting foreign investment in Aeromexico is a matter of great pride for all of us that are part of the best airline in Mexico. This undoubtedly reflects Delta's trust in our company and will allow us to serve a larger number of passengers through our global network,” said Andrés Conesa, CEO of Grupo Aeromexico.

"The benefits of connectivity and strength are of great value to our customers worldwide,” said Richard Anderson, Delta's CEO. "This agreement also represents a new stage in a key relationship, which we have been developing for years.”

The purchase is part of the global contract the carriers signed last year to create an alliance in Latin America. This is a long-term agreement that will lead to the expansion of Delta-Aeromexico codeshare flights.

Consolidation of this alliance also includes the companies' joint investment in their Maintenance, Repair and Operation (MRO) business at new facilities the carriers plan to open in Mexico in 2013. Grupo Aeromexico and Delta Air Lines will invest equal amounts to expand their aircraft repair business.

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By Newswire | June 4, 2012
The two carriers collectively operate 93 codeshare flights to more than five million passengers per year.
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