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.
TRIP Route Map: