Delta Air Lines Inc. will buy $65 million in Grupo Aeromexico stock as part of an expanded commercial agreement with the Mexican carrier.
The investment gives Delta a seat on Aeromexico’s board of directors. The deal is meant to provide Delta customers easier access to Aeromexico’s 60 domestic destinations.
As founding members of the SkyTeam airline alliance, the carriers already shared airport lounges, and their customers had the ability to accrue and redeem frequent-flier miles on both airlines.
The new agreement adds code-sharing, a practice allowing airlines to sell tickets on a partner carrier’s flights. It also calls for a joint sales staff focused on corporate accounts and improved customer service for elite customers.
The partnership will “build the foundation for a joint venture to better serve the U.S. and Mexico marketplace,” said Richard Anderson, Delta’s chief executive.
The deal is subject to regulatory approval in Mexico.