Pursuits
Azul’s Neeleman Says Trip Acquisition Equals 4 Years of Growth
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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.