Delta invests in Grupo Aeromexico

Grupo Aeromexico reports that it has received $65,000,000, from Delta Air Lines Inc. as part of Delta’s investment in Mexico’s flagship airline’s capital stock; thus strengthening its financial position, confirming its expansion project and creating the leading airline alliance in the Mexico-U.S. market. The Mexican Federal Competition Commission (CFC) authorized the operation that allowed Delta Air Lines to underwrite and purchase 30,182,855 shares of stock equivalent to 4.17% of Grupo Aeromexico’s capital stock, paying the $31 Mexican pesos per share Grupo Aeromexico offered in its IPO. The stock purchase also gives Delta a seat on the Grupo Aeromexico Board of Directors. This is the first time a global carrier has purchased equity in a national Mexican airline. Both companies will share best practices in sales, operations, equipment maintenance and staff training- enabling them to offer customers the same travel experience on any of their flights. Andres Conesa, CEO of Grupo Aeromexico, said: “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.” Delta’s CEO, Richard Anderson pointed out that: “The benefits of connectivity and strength are of great value to our customers worldwide. This agreement also represents a new stage in a key relationship, which we have been developing for years.” This financial transaction is part of the global contract the carriers signed last year to create a unique alliance in Latin America. This is a long-term agreement that will benefit passengers through the expansion of our codeshare flights. The carriers collectively offer 93 code-share destinations that represent 733 daily flights in eight countries. They have also been working on improving and increasing flight schedules to respond to customers’ needs in destinations such as New York, Los Angeles, Houston, Chicago and Miami, new daily service to Washington D.C. from Mexico City and new flights to Atlanta coming soon. Customers of both airlines enjoy a streamlined purchasing process that allows them to book their travel through to their final destination. Go to http://www.delta.com for more.