Why LATAM Airlines Stock Just Soared 31%

Shares of LATAM Airlines Group (NYSE: LTM) are on fire this morning, up 30.8% as of 10:10 a.m. EDT on news that Delta (NYSE: DAL) will enter into a partnership with the Chilean company and buy 20% of it.

Delta's own stock is up only a fraction of a percentage point, while a third company -- Brazil's Gol Linhas Aereas Inteligentes (NYSE: GOL) -- is taking a much bigger hit, down 6.4%.

Image source: LATAM Airlines.

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Source Fool.com