26.06.2015 19:50:12

United Airlines To Buy 5% Stake In Azul Brazilian Airlines

(RTTNews) - United Airlines (UAL) on Friday said it will acquire an about 5 percent stake in Azul Brazilian Airlines as part of a new strategic partnership.

United said that through a wholly owned subsidiary, it will invest $100 million for its economic stake in Azul, which includes one seat on Azul's board of director.

Azul is Brazil's third-largest airline; it serves more destinations in Brazil than any other Brazilian carrier, including more than 50 daily flights from Sao Paulo'sGuarulhos International Airport.

United said the deal paves the way for the carriers to cooperate on a range of customer benefits including codesharing of flights, expanded connection opportunities on routes between the United States and Brazil, in addition to other points in North and South America.

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