American Airlines' $100m Azul investment wins Brazil approval

Investing.com -- Brazil's antitrust regulator CADE approved American Airlines' $100 million investment in Azul on Wednesday, granting the U.S. carrier a minority stake of approximately 8% in the Brazilian airline.

Azul exited Chapter 11 bankruptcy protection in February following a restructuring that included investments from United Airlines and American.

CADE technicians had previously approved the transaction, but Abra Group, the holding company that controls Brazilian airline Gol and longtime partner of American, appealed the decision.

The regulator said the approval requires the signing and full compliance with a Merger Control Agreement between CADE and the parties.

The agreement converts previously private safeguards into obligations directly enforceable before CADE, the regulator added.

You May Also Be Interested In

• Appian stock rises amid software sector rally
• NeOnc expands Abu Dhabi program, schedules FDA meeting for NEO212
• Increasing unusual option volume: OPTU GTM BRZE CRL MNRO DXC PAGS PAXS INTR STLD INTR