Citigroup Offloads 16% Aeromexico Stake

Citigroup has sold its remaining 16 per cent share in Aeromexico, in a move which has led to speculation that Delta Air Lines could be set to increase its stake in the flag carrier.

Citigroup has sold its remaining 16 per cent share in Aeromexico, in a move which has led to speculation that Delta Air Lines could be set to increase its stake in the flag carrier.

Aeromexico confirmed on Sunday (May 17) in a statement that the share had been bought by several parties including Barclays Capital Securities, which purchased half of the stock.

This eight per cent stake is being held on behalf of Delta which has an option to acquire the shares.

Aeromexico and Delta, which have held a codeshare agreement since 1994, confirmed in March the formation of a $1.5bn joint venture to boost flight options for travellers between Mexico and the US.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish