United Airlines increases stake in Azul of Brazil

United Airlines increases stake in Azul of Brazil

Azul has revealed current shareholder United Airlines has concluded a private preferred share transaction with Hainan Airlines.

The transaction increased United’s economic stake in Azul from 3.7 to eight per cent,

“We continue to look for new ways to provide more connectivity for our customers, and we are excited about today’s announcement as Azul has been a great partner,” said Andrew Levy, chief financial officer of United Airlines.

“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.”

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Azul and United currently connect via their gateways in Sao Paulo – Guarulhos (GRU), Fort Lauderdale, Florida (FLL) and Orlando, Florida (MCO).

In Brazil connecting customers have access to the largest domestic network in the country, serving more than 100 cities.

In the United States, customers have access to United’s global network.

“Today is an important step forward in our partnership with United Airlines,” said John Rodgerson, chief executive 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 crewmembers that take care of our customers every single day.”