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Delta to own nearly half of Aeromexico

Tuesday, February 14, 2017


Delta is making a big bet in Mexico. The airline announced Monday it plans to buy 32 percent of Aeromexico, the country's oldest airline. Delta already owned shares of the Mexican airline, and its upcoming purchase brings Delta's total stake to 49 percent of Aeromexico's shares.

The news sent Aeromexico's stock soaring, up 16 percent Monday to an all-time high. Delta's stock also popped up 2 percent by Monday afternoon. The deal is still subject to regulatory approval in Mexico and the U.S.

Source: CNN