United Airlines increases stake in Azul

Brazilian law firm TozziniFreire Advogados has acted for China’s Hainan Airlines on the US$138 million sale of part of its interest in low-cost carrier Azul to United Airlines.

United Airlines increases stake in Azul Credit: commons.wikimedia.org/Mariordo (Mario Roberto Duran Ortiz)

United more than doubled its stake in Azul, from 3.7% to 8%, following the 27 April deal, which was completed via a private preferred share transaction with Hainan. The Chinese carrier, which is part of the HNA conglomerate, will continue to hold just over 17% of Azul.

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