The decision by Latam follows the purchase of a 20% stake in it by Skyteam’s Delta Air Lines. The $1.9 billion deal will end Latam’s tie-up with Delta’s main rival American Airlines.
The deal came after the Chilean Supreme Court ruled out further co-operation between Latam and British Airways and Iberia within oneworld.
Latam has not yet said whether it will join Skyteam but confirmed it would leave oneworld “in due course”.
Delta, which owns 49% of Virgin Atlantic, already has a small stake in Brazil’s Gol, but will now sell this.
Oneworld said in a statement: “We are disappointed, but we respect their decision.”
The alliance will continue to be represented in Latin America via American Airlines’ network from US hubs.
