Delta has completed its purchase of a 20% equity stake in LATAM Airlines Group. The $1.9 billion acquisition comes pursuant to the partnership the carriers announced in September.
"Equity investments like this help create alignment within our partnerships as we bring together our brands, enabling us to provide the very best service and reliability for our shared customers," Steve Sear, Delta's president -- international, said in a prepared statement.
Delta and LATAM shook up the international air market in September when they announced they would seek permission to operate a U.S.-South America joint venture partnership. The agreement upended the standing partnership between LATAM and American.
The carriers plan to begin codesharing during the first quarter of 2020 on up to 51 onward LATAM destinations in South America from Colombia, Ecuador and Peru and on up to 74 onward Delta destinations in the U.S. from Miami, New York, Los Angeles and Orlando.