Airlines United Airlines increases stake in Brazil’s Azul

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The Brazilian carrier Azul has announced United Airlines has increased its stake in Azul from 3.7% to 8.0%.

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The US carrier United Airlines has acquired the additional equity via a private preferred share transaction with China’s Hainan Airlines for an undisclosed sum. According to disclosure to the Shanghai Stock Exchange, Hainan Airlines still owns approximately 17% in Azul.

"Following our initial investment in 2015, connecting traffic between our airlines is at an all-time high, significantly benefiting our customers traveling between the US and Brazil. Azul’s strong network in Brazil, unique business model and exceptional customer service make this transaction a good long-term investment," said Andrew Levy, Executive Vice President and Chief Financial Officer of United Airlines.

Azul and United Airlines will expand its current cooperation, adding new codeshare flights to its network and connecting the frequent flyer programs of both airlines.  According to Azul’s website, both carriers offer code sharing flights to 373 destinations in 60 countries.

"Today is an important step forward in our partnership with United Airlines," said John Rodgerson, CEO of Azul. "Our customers are benefiting from having access to our collective networks that extend throughout North America with United and in Brazil with Azul. This investment reinforces our strategy, our business plan, our opportunities for growth and in our 11,000 crew members that take care of our customers every single day."

Azul is one of the major carriers in Brazil with a market share of around 17,8% on the domestic market. Several US carriers are cooperation with Brazilian airlines. Delta Air Lines owns a 9,48% stake in the low cost carrier GOL and American Airlines and Brazil’s flag carrier are evaluating concepts for a joint venture.

Source © voeazul.com.br

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