A PYMNTS Company

Mexico: Aeromexico says evaluating Delta Airlines offer

By  |  December 2, 2015

Aeromexico’s board of directors on Tuesday said it would study an offer from Delta Airlines to increase its stake in Mexico’s largest airline.

Delta, which has a 4.1 percent stake in Aeromexico, last month said it planned to buy up to an additional 32 percent of the company to strengthen its grip on the fast-growing Latin American market. The news sent Aeromexico’s shares up more than 30 percent.

The board of directors “agreed that it would review public offer at the right time in light of applicable regulations,” Aeromexico said in a statement.

The move reflects an attempt by Delta to turn up the heat on rival American Airlines Group, which has been a larger player in travel in the region. It follows a recent request by Delta and Aeromexico for immunity from US antitrust law to allow the two companies to coordinate schedules and flight prices, making connections more attractive for customers.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.