Colombia approves Delta Airlines and LATAM joint venture
The Civil Aviation Authority of Colombia (Aeronáutica Civil de Colombia) has unconditionally authorized LATAM and Delta Airlines (DAL) to form a joint venture, the former announced on May 11, 2021.
The green light to form a partnership is granted to LATAM Airlines Group, the biggest airline group in South America, its subsidiary LATAM Airlines Colombia. and Delta Air Lines and includes no conditions, according to the statement.
“The Joint Venture will improve air connectivity and provide passengers and cargo customers a seamless travel experience between North and South America once regulatory approvals have been obtained,” is outlined in the statement.
The Colombian authority becomes the third in the continent to approve the joint venture, following Brazil and Uruguay. The review process continues in other countries, including Chile.
Delta Airlines (DAL) acquired a 20% stake and a seat on LATAM’s executive board for $2 billion in September 2019.
LATAM Group is recovering from what its CEO Roberto Alvo has called “the most challenging year in history for the aviation industry and for LATAM.” In May 2020, LATAM Airlines entered Chapter 11 bankruptcy proceedings.
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