MIAMI – Colombian civil aviation authorities have approved a joint venture agreement between LATAM (LA) and Delta Air Lines (DL).
LATAM Airlines Group, the largest airline consortium in South America, its subsidiary LATAM Airlines Colombia, and DL have been given the go-ahead of the partnership with no conditions attached.
Thus, Colombia becomes the third country in South America to approve the LATAM-DL joint venture, following Brazil and Uruguay. Chilean authorities are currently reviewing the agreement.
Joint Venture to Improve Air Connectivity
In a joint statement, both airlines emphasized the benefits of the partnership for passengers and cargo.
“The Joint Venture will improve air connectivity and provide passengers and cargo customers a seamless travel experience between North and South America once regulatory approvals have been obtained,” the statement said.
Delta Air Line acquired a 20% stake in the South American airline, and a seat on LA’s executive board for US$bn in September 2019.
On its part, LATAM filed for Chapter 11 bankruptcy protection exactly a year ago, and is recovering from, what CEO Roberto Alvo defines, as “the most challenging year in history for the aviation industry and for LATAM.”
Featured image: LATAM (Qatar Airways) A7-AMD Airbus A350-900. Photo: Julian Schöpfer/Airways