Delta Air Lines and Grupo Aeromexico have announced a tentative agreement for a long-term, exclusive commercial alliance.

Under the agreement, Delta and Aeromexico will expand cooperation to leverage each other’s strengths and link Delta’s expansive network with Mexico’s largest passenger network.

As part of the agreement, Delta also will invest $65 million in Aeromexico.

“Aeromexico has been a strong partner for Delta in Mexico and Latin America, and this reinforces our relationship,” said Delta chief executive Richard Anderson.

“By forming an exclusive long-term commercial partnership, we will leverage the strengths of our two networks to provide expanded customer benefits and build the foundation for a joint venture to better serve the US and Mexico marketplace.”

Following a successful restructuring in 2009 and subsequent public stock offering, Aeromexico has reported strong financial results, including its highest operating margin in 15 years at 10.4 per cent for the June quarter 2011.

According to the US Department of Commerce, goods traded between the US and Mexico in 2010 totaled nearly $400 billion, making Mexico the third largest trading partner for the United States.

“The expanded agreement with Delta will undoubtedly allow us to solidify the commercial alliance we have been building together for several years now,” said Aeromexico chief executive Andres Conesa.

“We will work with Delta to offer more options for our customers, including greater access to Delta’s global network.”

The deal will see the carriers cooperate on everything from frequent flier points and airport lounges to code-sharing, maintenance and ticket sales.