After the market closed on Thursday, Sept. 26, 2019, Delta Air Lines (NYSE:DAL) and LATAM (NYSE:LTM) announced a major investment by the U.S. carrier in the largest carrier in S. America. Delta’s equity and supporting investments and transactions of more than $2.3 billion is the largest by Delta since its merger with Northwest Airlines in 2008; LATAM is Delta’s latest equity investment in a portfolio that includes at least a half dozen global airlines.
In order to understand the investment changes that might result from the Delta-LATAM transaction, an exploration of