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United Airlines increases economic stake in Azul to 8.0%
Increased participation is a result of United concluding a private preferred share transaction with Hainan Airlines
São Paulo, April 27, 2017 - Today, Azul is announcing that current shareholder United Airlines, has just concluded a private preferred share transaction with Hainan Airlines. The transaction increased United’s economic stake in Azulfrom 3.7% to 8.0%.
"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, Executive Vice President and 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."
"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 crewmembers that take care of our customers every single day."
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