Brazil’s GOL Linhas Aereas Inteligentes SA said that Delta Air lines Inc has sold more than 32.9 million shares it held in the company, a few months after the Atlanta-based airline announced its decision to exit stake.
Delta’s decision to sell its stake was expected, following its acquisition of a 20% stake in GOL competitor LATAM Airlines Group SA for $1.9 billion in September.
The deal with LATAM Airlines was Delta’s largest since it merged with Northwest Airlines a decade ago, and ended the Chilean carrier’s ties with American Airlines Group. Delta’s deal with Latin America’s largest carrier would give it a bigger footprint in the region, where American Airlines has been leading the charts.
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