American Plans To Invest In A Budget Airline Based In Chile
DALLAS (AP) — American Airlines is planning to invest in a small South American budget airline as part of a deal that will include selling seats on each other's flights.
American announced the proposed deal with JetSmart on Thursday. JetSmart operates mostly in Chile and Argentina, but it's controlled by a U.S. private equity firm. Officials at American Airlines won't say how much they plan to invest in JetSmart other than saying it will be a minority stake. If the companies close the deal and win government approval, travelers could earn and spend American frequent-flyer points on JetSmart flights.
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