SANTIAGO: Shares in LATAM Airlines Group surged more than 30per cent at the market open on Friday, the day after Delta Air Lines said it would buy a 20per cent stake in the company for US$1.9 billion, creating a major new airline partnership and ending the Chilean carrier's ties with American Airlines.
LATAM shares were up by 33per cent within an hour of Santiago’s blue-chip IPSA's stock exchange opening. U.S.-listed shares were up 39.3per cent before the market opened.The surprise deal with Latin America's largest carrier will give Delta a much bigger footprint in the region, a growth market in which LATAM flies to dozens of destinations including cities in Argentina, Peru and Brazil.
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