Delta Air Lines announced today that it will make a financial investment in three of its partner airlines to help the trio come out of the constraints of the pandemic.
The total investment stands at $ 1.2 billion, with a 20 percent stake in Aeromexico, a 10 percent stake in LATAM and the continued 49 percent equity partnership in Virgin Atlantic.
In fashion now
Delta CEO Ed Bastian said this not only helps the three carriers, but Delta as well.
“These strategic investments in our partners will transform our ability to improve travel for our customers, allowing us to deliver a seamless travel experience while providing our customers with an unrivaled network between North America and major markets around the world. “said Ed Bastian, CEO of Delta. said in a press release. “The work each of our partners has done to strengthen their businesses for the future makes these partnerships even more valuable and creates a new era of international travel to benefit our customers, employees and investors as global travel rebound in 2022 and beyond. “
Delta said that before the pandemic, its record international growth was attributed to a combination of organic growth and its global network of partners.
The onset of the pandemic in March 2020 halted international travel to and from the United States until travel bans and restrictions were lifted on November 8, 2021. Delta responded quickly by resuming 12 of its routes international.
Delta’s joint cooperation agreement with Aeromexico has been in place since 2017 and includes more than 40 routes.
The trans-American joint venture agreement with LATAM provides route networks between North America and South America.
And the joint venture with Virgin Atlantic, now eight years old,
Virgin Atlantic: Delta’s joint venture with Virgin Atlantic has since 2013 with connections between the United States and the United Kingdom