Envious IAG Boss Congratulates Delta on Latam Move
Skift Take
Delta's tactic of buying stakes in airlines across the globe is shaking up the world of airlines alliances, but the American carrier's gain is likely to come at the expense of others including IAG, the parent company of British Airways and Iberia.
Delta Air Lines shocked the aviation world with its decision to buy a 20 percent stake in Latam Airlines Group for $1.9 billion at the end of September, and the repercussions of the deal are likely to rumble on for some time.
While the move will strengthen Delta's position in South America, it has thrown a spanner in the works of the Oneworld alliance, in which Latam is — at least until it leaves — a key member alongside IAG's British Airways and Iberia, as well as American Airlines.
IAG CEO Willie Walsh told analysts on an earnings call on Thursday that it was a "very good strategic move" for Delta, before conceding that it
