Latam Airlines ADRs Soar 22% in After Hours as Delta Buys 20% Stake
September 26 2019 - 5:51PM
Dow Jones News
By Stephen Nakrosis
The American depository receipts of Chilean airline Latam
Airlines Group SA (LTM) have taken off in Thursday's after-hours
market, following the news that Delta Air Lines Inc. (DAL) is
taking a 20% stake in the South American carrier.
At 5:14 p.m. ET, Latam's ADRs are trading 22.09% higher, at $11
each. They closed the day's regular trading session with a 3.33%
gain, finishing at $9.01.
The ADRs of Brazilian airline GOL Linhas Aereas Inteligentes SA
(GOL) are taking an opposite tack, trading 8.76% lower on the news,
at $15 each. Delta is planning to exit from its GOL stake, CNBC
reported.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 26, 2019 17:36 ET (21:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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