Brazil gives nod to Delta-LATAM joint venture routesonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from routesonline.com Daily Mail and Mail on Sunday newspapers.
MIAMI – The Joint Venture Agreement (JVA) between Delta Air Lines (DL) and LATAM Airlines Group (LA), has obtained full and unconditional authorization from the Brazilian Administrative Council for Economic Defense (CADE). The agreement was first signed in May 2020 and operational under initial approval in September 2020.
The trans-American joint venture shall permit increased services and offer a better travel experience between North and South America on DL and LA networks.
The Joint venture was also approved in Uruguay whilst awaiting a similar decision in Chile and other South American countries.
Photo: Luca Flores/Airways
Brazil Gives Final Approval For Delta-LATAM Joint Venture
Advertisement:
The trans-American Joint Venture Agreement signed by Delta Air Lines and LATAM last year has been given final approval in Brazil. Uruguay has also ratified the deal, leaving just the US and Chile to rubber-stamp the partnership.
Brazil has given the deal the green light. Photo: Vincenzo Pace | Simple Flying
Final approval for Delta and LATAM in Brazil
The final approval for the Delta-LATAM joint venture has been given this week by Brazil. The agreement, which has also been given the nod from Uruguay, still needs approval in some other jurisdictions.
By Lewis Harper2021-02-22T16:20:00+00:00
Of all the moments to take control of an airline group, March 2020 perhaps ranks as one of the least attractive in history.
But that was the reality facing LATAM Airlines Group chief executive Roberto Alvo, who assumed the top role following the departure of long-serving chief Enrique Cueto, who remains on the board.
Helpfully, Alvo is not new to LATAM Airlines. He has 19 years of experience with the firm, holding positions in finance, fleets and commercial operations. That experience was no doubt tested to the limit when, in late May 2020, LATAM Airlines, along with some affiliates, filed for US Chapter 11 creditor protection in order to undertake restructuring.