Aeromexico Evaluating Delta Offer

Aeromexico's board of directors said it would study an offer from Delta Air Lines to increase its stake in Mexico's largest airline.

Delta, which has a 4.1 percent stake in Aeromexico, last month said it planned to buy up to an additional 32 percent of the company to strengthen its grip on the fast-growing Latin American market.

The board "agreed that it would review (Delta's) public offer at the right time in light of applicable regulations," Aeromexico said in a statement.

The move reflects an attempt by Delta to turn up the heat on rival American Airlines, which has been a larger player in travel in the region.

It follows a recent request by Delta and Aeromexico for immunity from US antitrust law to allow the two companies to coordinate schedules and prices, making connections more attractive for customers.