Azul merges with TRIP (Brazil)

Discussion in 'Other Airlines | South America' started by harvson3, Jun 1, 2012.  |  Print Topic

  1. harvson3

    harvson3 Silver Member

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    First reported by O Estado de SP.

    From Bloomberg/Businessweek:

    Azul Linhas Aereas Brasileiras SA is getting the equivalent of four years’ worth of growth by acquiring Trip Linhas Aereas, said David Neeleman, Azul’s founder who will be the combined company’s biggest shareholder.
    Azul and Trip announced yesterday an agreement to consolidate operations into Azul Trip SA, a holding company that’s the third-biggest Brazilian airline by market share. Azul shareholders will have two thirds of the new venture and Trip shareholders will own the remainder in the all-stock transaction. Neeleman owns about 90 percent of Azul’s shares. The companies didn’t disclose financial terms.
    The synergies created by the operation, which the companies called a merger, will cause growth to accelerate, Neeleman, who was born in Brazil and also founded JetBlue Airways Corp., said in an interview yesterday in Sao Paulo. “It’s a leap of four years of growth for us. This year we expect about 4.2 billion reais ($2.12 billion) in revenue as a single company.”

    Personally, I've never found their prices lower than Gol or TAM and have never flown on either.
    OY-JFS and uggboy like this.

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