Grupo Aeroméxico has received US$65 million from Delta Air Lines as part of United States carrier’s investment in Mexico’s flagship carrier’s capital stock.
The Mexican Federal Competition Commission (CFC) authorised the operation that allows Delta Air Lines to underwrite and purchase 30,182,855 shares of stock equivalent to 4.17 per cent of Grupo Aeroméxico’s capital stock.
Delta paid $31 Mexican pesos for each share Grupo Aeroméxico offered in its IPO.
This stock purchase also gives Delta a seat on the Grupo Aeroméxico board of directors.
“Expanding the business relationship with our main partner and attracting foreign investment in Aeroméxico 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,” said Andrés Conesa, chief executive of Grupo Aeroméxico.
This financial transaction is part of the global contract the carriers signed last year to create a unique alliance in Latin America.
The carriers collectively offer 93 codeshare 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, DC from Mexico City and new flights to Atlanta coming soon.
Customers of both airlines enjoy streamlined purchasing processes that allow them to book their travel through to their final destinations.
Consolidation of this alliance also includes the companies’ joint investment in their Maintenance, Repair and Operation (MRO) business at new facilities the carriers plan to open in Mexico in 2013. Grupo Aeroméxico and Delta Air Lines will invest equal amounts to expand their aircraft repair business, which will also create new jobs.
Aeroméxico transported 14 million passengers in 2011.
It offers more than 550 daily flights to 42 domestic destinations and 30 destinations abroad in the United States, Canada, Central and South America, Europe and Asia.