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Delta Air (DAL) Stock Rises, Mexico Approves Aeromexico Venture

NEW YORK (TheStreet) -- Delta Air Lines (DAL - Get Report) stock is gaining 1.68% to $42.88 in early afternoon trading on Tuesday after the airline carrier gained approval from Mexican competition regulators for the $1.5 billion joint venture with Grupo Aeromexico.

Mexico's competition commission, known as Cofece, approved the partnership, which will allow the companies to collaborate on schedules, capacity and prices, Reuters reports.

Aeromexico will have to give up eight pairs of slots at the Mexico City airport and one of the carriers will have to cancel a route if they coincide with one another, according to the conditions set by Cofece...