Delta to buy 20% stake in Latin America's largest airline

Delta Air Lines is planning to buy a 20% stake in Latin America’s largest airline, LATAM, for $1.9 billion, after its rival American Airlines announced a joint venture with the Chilean-based airline, CNBC reports.

The big picture: Through joint ventures and minority stakes, Delta has been trying to broaden its trips to more international destinations. LATAM has hubs in major South American cities, with domestic service in Chile, Brazil, Colombia, Peru, Argentina and Ecuador.

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