The Mexican Federal Competition Commission (CFC) authorized the operation that allows Delta Air Lines to underwrite and purchase 30,182,855 shares of stock equivalent to 4.17% of Grupo Aeromexico’s capital stock, paying the $31 Mexican pesos per share Grupo Aeromexico offered in its IPO. This stock purchase also gives Delta a seat on the Grupo Aeromexico Board of Directors.
This is the first time a global carrier has purchased an equity share in a national Mexican airline. Both companies will share best practices in sales, operations, equipment maintenance and staff training, enabling them to offer customers the same travel experience on any of their flights.
This financial transaction is part of the global contract the carriers signed last year to create a unique alliance in Latin America. This is a long-term agreement that will benefit passengers through the expansion of our codeshare flights.
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 at 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 Aeromexico and Delta Air Lines will invest equal amounts to expand their aircraft repair business, which will also create new jobs.
Copyright Photo: Brian McDonough.