GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) has confirmed its will end a commercial joint venture with Delta Air Lines (DL, Atlanta Hartsfield Jackson) following the US carrier's decision to switch its South American investment strategy to LATAM Airlines Group.

Last week, Delta announced it would dispose of its 9% stake in Gol in favour of acquiring a 20% stake in LATAM Airlines Group for USD1.9 billion.

In a follow-up stock market filing, Gol said that as part of the divestment process, a longstanding codeshare agreement with Delta would be wound down while Delta's representative on Gol's board, Bill Carroll, has now tendered his resignation to Gol’s Board of Directors and Alliances Committee.

"The phase-out of this codeshare and investment in our non-voting shares is not expected to have a significant financial impact to GOL as the current relationship provided approximately 0.3% of GOL’s total revenues," it said.

At the same time, American Airlines (AA, Dallas/Fort Worth), which was LATAM Airlines Group's North American partner, has announced it will also gradually end its codeshare agreement with the Chile-based airline conglomerate "over the next few months", although it has suspended codeshare bookings effective immediately.

Although LATAM has confirmed it intends to leave Oneworld, it has yet to announce a formal departure date alongside any plans to join Delta's alliance, Skyteam.