Delta Air Lines has raised its offer to buy a bigger share of Aeromexico.
The Atlanta-based no 2 US carrier said it will take an additional 32% percent of the outstanding shares in Grupo Aeroméxico.
Delta already owns 4.1% and had an option to acquire an additional 8.1%.
"This new investment demonstrates Delta’s confidence in Mexico’s future and deepens our relationship with Aeroméxico, cementing Delta’s long-term commitment to the customers we serve to, from and through Latin America," said Delta President Ed Bastian.
Shares in Aeromexico initially surged 16% on the news.
Separately, the Delta pension trust owns a small stake and collectively the company would own or have options to acquire up to a maximum 49% stake.
