MEXICO CITY, Dec 1 (Reuters) - Aeromexico’s board of directors on Tuesday said it would study an offer from Delta Airlines to increase its stake in Mexico’s largest airline.
Delta, which has a 4.1 percent stake in Aeromexico , last month said it planned to buy up to an additional 32 percent of the company to strengthen its grip on the fast-growing Latin American market. The news sent Aeromexico’s shares up more than 30 percent.
The board of directors “agreed that it would review (Delta‘s) public offer at the right time in light of applicable regulations,” Aeromexico said in a statement.
The move reflects an attempt by Delta to turn up the heat on rival American Airlines Group Inc, which has been a larger player in travel in the region. It follows a recent request by Delta and Aeromexico for immunity from U.S. antitrust law to allow the two companies to coordinate schedules and flight prices, making connections more attractive for customers. (Reporting by Anna Yukhananov; Editing by Leslie Adler)