Another $1.5B is being added to Delta’s debt to finance the LATAM deal. The remaining $400M will come from cash on hand. This is the largest buy of another airline since Comair at $1.8B two decades ago (roughly $2.75B today) and 3X the Aeromexico deal at $620M and 5X the Virgin Atlantic deal at $360M in 2012.

What’s next?

https://www.sec.gov/Archives/edgar/d...821919dfwp.htm