United Airlines’ deal for stake in Azul put on hold
United Airlines’ planned minority stake purchase in Brazil airline Azul has hit a roadblock.
Brazil’s competition regulator has currently placed the deal on hold.
United is increasing its stake in the airline with a $100 million injection.
It had been set for final approval but now officials at the regulator a taking a deeper dive into potential antitrust issues.
Azul is still in the restructuring stage having exited bankruptcy protection.
United’s stake purchase would increase its shareholding in the airline to about 8%.
The halt is a temporary one to give a third party, consumer protection organization IPC Consumo, time to present evidence against the stake.
It has been given 15 days by regulator CADE to do this.
Brazil is a major South American market for United.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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