As part of strategic efforts to build its presence in South America, Delta Air Lines has agreed to acquire a 35% stake in Aeroperu and enter into a 10-year marketing agreement.

Delta's stake will match that of Aeromexico. Both foreign carriers will be represented on Aeroperu's board of directors. The terms of the deal have not been disclosed.

The marketing pact, which requires government approvals, calls for codesharing on routes between Peru and the USA. Delta begins daily service between Atlanta and Lima on 1 July. In a related move, Delta and Aeromexico announced plans to expand their marketing relationship. Leo Mullin, Delta's president and chief executive, says that the Aeroperu deal "is a strategic step in building Delta's presence in Latin America".

Continental Airlines had hoped to acquire the one-third equity stake in Aeroperu. It also wants to build its services in Latin America, but has failed in bids to buy a stake in Aerolineas Argentinas as well as Aeroperu. American Airlines won the fight to acquire an 8.5% stake in the Argentine carrier.

Source: Flight International