United Continental Holdings acquires 5% stake in Brazilian budget carrier Azul

Published on : Monday, June 29, 2015

United AirlinesUnited Continental Holdings, the owner of United Airlines, announced in Brasilia on Friday that it has acquired a 5 percent stake in Brazilian budget carrier Azul for $100 million.

 

American David Neeleman will continue to control Azul with a 67 percent stake after the deal, which also included a code sharing agreement between United and the Brazilian airline.

 

“Brazil is an important market in United’s global route network, and this partnership with Azul further strengthens our ties to the region,” United Continental Vice President Jim Compton said at a press conference.

 

Azul is currently Brazil’s third-largest airline after TAM and Gol and has a 17 percent share of the local aviation market.

 

Neeleman, who founded Azul in 2008 and is the company’s CEO, was the winning bidder in the privatization of state-owned Portuguese airline TAP, acquiring a 61 percent stake in the debt-ridden carrier earlier this month.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 01 AIME 2018 BB
  • 02 WTM Latin America 2018
  • 03 EMITT 2018
  • 04 AIME-2018 small
  • 05 itb-china 2018
  • 06 Central & Eastern Europe 2018
  • 06 imtm 2018
  • 06 TTF-2018
  • 07 balttour 2018
  • 07 ibtm arabia 2018
  • 08 mice-arabia 18
  • 08 OTM 2018
  • 09 The hotel shows audiarabia 18
  • 10 hotelfair 2018
  • 10 miceforum 18
  • 11 Digital Travel 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com