Investments (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of investments at fair value

Our investments accounted for at fair value are summarized in the following table:

	Ownership Interest				Carrying Value
(in millions)	December 31, 2019		December 31, 2018		December 31, 2019		December 31, 2018
Air France-KLM	9	%	9	%	$	418	$	408
China Eastern	3	%	3	%	258		259
Hanjin-KAL	10	%	—	%	205		—
GOL	—	%	9	%	—		213
Other investments					218		210
Total fair value investments					$	1,099	$	1,090

During 2019, we acquired 10% of the outstanding shares of Hanjin-KAL, the largest shareholder of Korean Air.

Summary of equity method investments

	Ownership Interest				Carrying Value
(in millions)	December 31, 2019		December 31, 2018		December 31, 2019		December 31, 2018
Grupo Aeroméxico (1)	51	%	51	%	$	833	$	897
Virgin Atlantic (2)	49	%	49	%	375		383
AirCo	49	%	49	%	142		109

⁽¹⁾Grupo Aeroméxico's corporate bylaws (as authorized by the Mexican Foreign Investment Commission) limit our voting interest to a maximum of 49%. Therefore, we account for our investment under the equity method. Due to Aeroméxico's share repurchase program, our equity stake in Grupo Aeroméxico has increased to a non-controlling 51% interest.

⁽²⁾We have a non-controlling equity stake in Virgin Atlantic Limited, the parent company of Virgin Atlantic Airways, and similar non-controlling interests in certain affiliated Virgin Atlantic companies.