Delta completed the acquisition of a 20% stake in Latam for $1.9bn.

Delta Air Lines, a leading US airline operator completed the acquisition of a 20% stake in Latam Airlines, Latin America's leading airline group for $1.9bn. Delta invested $1.9bn for a 20% stake in LATAM through a public tender offer at $16 per share, funded principally with newly issued debt and available cash. Delta will also invest $350m to support the establishment of the strategic partnership. Delta will acquire four A350 aircraft from LATAM and has agreed to assume LATAM’s commitment to purchase 10 additional A350 aircraft to be delivered beginning in 2020 through 2025, supporting Delta’s ongoing fleet transformation. "We look forward to working with LATAM to create a truly world-class partnership that will give our customers unparalleled access throughout the Americas. Equity investments like this help create alignment within our partnerships as we bring together our brands, enabling us to provide the very best service and reliability for our shared customers," Steve Sear, Delta President.