American Air to Buy JetSmart Stake, Expand South America Flying

American Airlines Group Inc. agreed to buy a stake in JetSmart Airlines SpA, a privately held, low-cost carrier based in Chile, and establish a partnership that the larger carrier hinted could open the door to additional deals with other discounters operated by Indigo Partners LLC. American will spend an undisclosed amount for an unspecified minority stake in JetSmart, one of several airlines owned by Bill Franke’s Indigo, the carriers said Thursday. Terms of a letter of intent are being worked… (www.yahoo.com) More...