Azul Linhas Aéreas Brasileiras (Sao Paulo-Campinas) has received permission from Brazil’s Administrative Council for Economic Defense (CADE) to merge TRIP Linhas Aereas (Sao Paulo-Campinas). On March 6, 2013 Brazilian authorities gave the final approval for the merger with a few restrictions relating to code-sharing with TAM (LATAM Group) (Sao Paulo) and slot use at Rio de Janeiro (Santos Dumont Airport).
Previously on May 28, 2012, Azul announced it had purchased TRIP forming a new holding company until TRIP could be merged into the larger Azul.
Copyright Photo: AirSpeed. The TRIP brand will now be retired as the merger continues. Embraer ERJ 190-100LR PP-PJL (msn 19000189) is pictured in action at Florianopolis is southern Brazil.
New Route Map:
Please click on the map for the full-size view.
SkyWest, Inc. (St. George) announced today that it entered into an agreement on Wednesday, May 23, 2012, to sell its 26% ownership (20% common and 6% preferred) in the Brazilian airline TRIP Linhas Aereas S.A. (Sao Paulo) for a price of $42 million. SkyWest has agreed to sell its TRIP shares to Trip Investimentos Ltda., a Brazilian limited liability company affiliated with TRIP. The purchase price is scheduled to be paid in three installments over a two-year period and may be accelerated based on certain conditions under the purchase agreement.
As part of the agreement, SkyWest also received an option to acquire 15.38% of the ownership in Trip Investimentos Ltda., the purchaser of the shares, which SkyWest may exercise at its discretion. The call option has an initial set price per share, escalates annually at a specified rate and can be exercised up to between four to six years following receipt by SkyWest of the required installment payments from Trip Investimentos Ltda., under the agreement. SkyWest’s sale of the TRIP shares, as well as the other transactions governed by the purchase agreement, are contingent on TRIP’s receipt of Brazilian regulatory approvals.
SkyWest acquired its initial interest in TRIP in August 2008 and has invested a total of $30 million for its 26% interest. Due to SkyWest’s treatment of its TRIP ownership position under the equity method of accounting, it has decreased its investment in TRIP to a current carrying amount of $23.2 million as of March 31, 2012. SkyWest anticipates recording a net gain on the investment upon closing, however the amount will be contingent on SkyWest recording its share of TRIP’s income or loss up until the closing date of the transaction, which is yet to be determined and is subject to TRIP’s receipt of regulatory approvals.
TRIP is merging with Azul Linhas Aereas forming a new holding company called Azul Trip.
Copyright Photo: AirSpeed.
TRIP Linhas Aereas:
Azul Linhas Aéreas Brasileiras (Sao Paulo-Campinas) and TRIP Linhas Aéreas (Sao Paulo-Campinas) announced yesterday (May 28) they are planning to marge and will create a new holding company called Azul Trip S.A. The two airlines will operate separately under the new holding company until regulatory approvals are obtained. At the time of the approvals, the holding company will consider consolidating the two brands but in reality the TRIP brand is now short-term. This announcement outflanks TAM Linhas Aéreas (Sao Paulo) which had an on-going relationship with TRIP as a feeder. David Neeleman, the founder of Azul (and also jetBlue Airways), called the acquisition the equivalent of four years of natural growth.
Azul stockholders will receive two thirds of the Azul Trip S.A. stock and the TRIP stockholders will receive the remaining one third.
Read the full report from Bloomberg Businessweek: CLICK HERE
Top Copyright Photo: Marcelo F. De Biasi.
Bottom Copyright Photo: Marcelo F. De Biasi.
TRIP Route Map:
Click on the map to expand.
TRIP Linhas Aéreas (Sao Paulo-Campinas) has finalized the acquisition of 18 new ATR 72-600s, plus it took out options for 22 additional aircraft.
Nine ATR 72-600s will be directly ordered from ATR. In addition to this contract with ATR, TRIP will lease nine ATR 72-600 from ALC (Air Lease Corporation) and GECAS. The first aircraft of this new model -600 will enter into service in October 2011.
With this new order, TRIP will become the largest ATR operator in the world, with a fleet of 51 ATRs. Today’s largest ATR operator is Executive Airlines (American Eagle) with 39 aircraft.
TRIP Slide Show: CLICK HERE
Copyright Photo: AirSpeed. Please click on the photo for additional information.
Air Lease Corporation (ALC) has delivered its first new Embraer aircraft from the direct order placed at the Farnborough International Air-Show in 2010. This is ALC’s first of six CF34-10E7-powered E190s leased to TRIP Linhas Aéreas (Sao Paulo-Campinas).
TRIP Slide Show: CLICK HERE
Copyright Photo: Marcelo F. De Biasi. Please click on the photo for additional information.
Air Lease Corporation (ALC) (Los Angeles) has entered into long term lease agreements with TRIP Linhas Aereas (Sao Paulo-Campinas) for six new ATR 72-600s and six new Embraer ERJ 190LRs, to be delivered between July 2011 and October 2012.
In other leasing news:
ALC is leasing four new Embraer ERJ 190s to Bulgaria Air. Deliveries are set for March, April, June, and November 2012.
ALC is leasing an additional new Airbus A330-300 to Asiana Airlines (Seoul), for delivery in September 2012.
ALC signed a 12 year lease agreement with Garuda Indonesia Airlines for a new Airbus A330-200.
ALC delivered a Boeing 737-800 (msn 32919) on a long term lease to Caribbean Airlines.
Previously unannounced from prior quarters, ALC acquired six additional Boeing 737-800s on lease to five operators, including two to Hainan (msns 35101 and 35077), and one each to Shanghai Airlines (msn 34254), Sun Express (msn 36529), Xiamen (msn 34253), and Sunwing Airlines (msn 30292).
Copyright Photo: AirSpeed. The newer ATR 72s will replace the older ATR 72s. Please click on the photo for additional information.
TRIP’s extensive route map in Brazil:
TRIP Linhas Aereas (Sao Paulo-Campinas) has signed a contract with Embraer for four new ERJ 190 jets.
Copyright Photo: AirSpeed. Please click on the photo for further details.
TRIP Linhas Aereas Route Map (TRIP routes in blue):
TRIP Linhas Aéreas (Sao Paulo-Viracopos) announced the closing of a contract for the acquisition of two 106-seat Embraer ERJ 190 jets at the 47th Farnborough International Air Show for delivery in the second quarter of 2011.
TRIP currently operates six 86-seat Embraer ERJ 175 jets.
Copyright Photo: AirSpeed. One of the current TRIP Linhas Aereas Embraer ERJ 170-200LRs (ERJ 175) is this PP-PJD (msn 17000017) preparing for takeoff at Rio de Janeiro (Santos Dumont).