Latin America still strong for US airlines, while growth slows. Delta maximises equity investments

Despite forecasts of relatively tepid economic growth of 1.3% in Latin America for 2015, US airlines in particular believe that some of the headwinds that dragged down their performance in the region during 2014 will start to subside in 2H2015.

This should create an opportunity to regain some revenue footing in a region that by IATA's calculations still recorded a healthy 5.8% gain in international traffic during 2014.

American dominates in terms of market share, but Delta has expanded rapidly in recent months and profits from its Aeromexico and Gol equity-based partnerships.

United has the smallest share of the big three, but grew its Latin America capacity by over 16% in 4Q2014. JetBlue too is making aggressive inroads, off a smaller base, with nearly 20% growth into upper South America. Spirit is launching an array of new service and Southwest will begin international operations from Houston Hobby Airport in late 2015.