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LatinNews Daily - 12 June 2020
In brief: Latam seeks Brazil’s approval for joint venture with Delta
* The Brazilian subsidiary of Latam Airlines Group has approached Brazil’s anti-trust regulator (Cade) for the approval of a joint venture agreement with US carrier Delta Airlines. The signature of a trans-American joint venture agreement between Delta and Latam (and Latam’s subsidiaries) was announced on 7 May. Pending approval from local regulators, such as Cade in Brazil, this agreement will combine the carriers’ route networks between North and South America. The launch of a strategic alliance between Delta and Latam was agreed upon last year, and both companies have stressed that it remains important for the sustainability of their business in the long term, despite the uncertainty in the air travel sector caused by the coronavirus (Covid-19) pandemic. Jerome Cadier, CEO of Latam Brasil, noted that the joint venture will help the carrier “emerge from this global crisis...stronger, more dynamic and more competitive”. Latam filed for Chapter 11 bankruptcy in the US in late May, although its Brazilian subsidiary is not concerned.
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