ATLANTA and MEXICO CITY, Nov. 18,
2015 /PRNewswire/ -- Delta Air Lines (NYSE: DAL)
intends to acquire up to an additional 32 percent of the
outstanding capital stock of Grupo Aeromexico S.A.B. de C.V. (BMV:
AEROMEX) through a cash tender offer for MXP$43.59 per share. This
investment will strengthen the airlines' partnership, provide more
travel options for customers in the U.S. and Mexico and deliver the industry's best
customer experience.
Currently, Delta owns approximately 4.1 percent of the
outstanding shares of Grupo Aeromexico and holds an option to
acquire an additional 8.1 percent. Separately, the Delta pension
trust holds options to acquire approximately 4.6 percent of Grupo
Aeromexico. Following completion of the tender offer, Delta and the
Delta pension trust collectively would own and/or have options to
acquire up to a total of 49 percent of the outstanding shares of
Grupo Aeromexico.
"This new investment demonstrates Delta's confidence in
Mexico's future and deepens our
relationship with Aeromexico, cementing Delta's long-term
commitment to the customers we serve to, from and through
Latin America," said Delta
President Ed Bastian.
Delta intends to commence the tender offer once required
regulatory approvals in Mexico and
the United States have been
obtained. The tender offer will be subject to terms to be disclosed
and customary closing conditions, including the acquisition by
Delta of a minimum number of shares in the tender offer. The
transaction also is subject to approval by the Boards of Directors
of Delta and Grupo Aeromexico.
Delta and Aeromexico launched their first codeshare in 1994. In
2011, Delta entered into an enhanced commercial agreement with
Aeromexico, and in 2012, Delta invested USD$65 million in shares of Grupo Aeromexico, the
parent company of Aeromexico. In March, Delta and Aeromexico filed
an application with the U.S. Department of Transportation seeking
antitrust immunity for a new joint venture on flights between
the United States and Mexico. The request also was submitted for
approval to the Mexican antitrust authorities, the Comision Federal
de Competencia Economica (Federal Economic Competition
Commission).
About Delta Air Lines
Delta Air Lines is working to be the best U.S. airline in
Latin America and the Caribbean. Its achievements have been
recognized with five World Travel Awards in 2015 in the categories
of North America's Leading Airline
and United States' Leading Airline
to the Caribbean, to Central America, to South America and to Mexico. Additionally, Delta was recognized
with two top customer service distinctions by Latin Trade's Best of
Travel Annual Awards 2015, leading the categories of "Best
Self-Check-In" and "Best Food and Beverage in the Delta Oneā¢
cabin". Delta continues to grow in Latin
America through its long-term exclusive alliances with GOL
Linhas AEreas Inteligentes and Aeromexico and is committed to
building a solid regional footprint thus enhancing its global
network and offering a better overall experience for its customers.
Delta provides service to 32 countries and 49 destinations in the
region offering over 1,300 weekly flights between Latin America/Caribbean and the U.S.
Delta Air Lines serves more than 170 million customers each
year. Delta was named to FORTUNE magazine's top 50 World's Most
Admired Companies in addition to being named the most admired
airline for the fourth time in five years. Additionally, Delta has
ranked No.1 in the Business Travel News Annual Airline survey for
four consecutive years, a first for any airline. With an
industry-leading global network, Delta and the Delta Connection
carriers offer service to 316 destinations in 57 countries on six
continents. Headquartered in Atlanta, Delta employs nearly 80,000 employees
worldwide and operates a mainline fleet of more than 800 aircraft.
The airline is a founding member of the SkyTeam global alliance and
participates in the industry's leading trans-Atlantic joint venture
with Air France-KLM and Alitalia as well as a joint venture with
Virgin Atlantic. Including its worldwide alliance partners, Delta
offers customers more than 15,000 daily flights, with key hubs and
markets including Amsterdam, Atlanta, Boston, Detroit, Los Angeles,
Minneapolis/St. Paul, New York-JFK, New York-LaGuardia,
Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita.
Delta has invested billions of dollars in airport facilities,
global products and services, and technology to enhance the
customer experience in the air and on the ground. Additional
information is available on the Delta News Hub, as well as
delta.com, Twitter @DeltaNewsHub, Google.com/+Delta,
Facebook.com/delta and Delta's blog takingoff.delta.com.
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SOURCE Delta Air Lines