Azul Linhas Aéreas Brasileiras just invested approximately US $ 100 million in securities convertible into preferred shares of TAP Portugal, which will give the Brazilian company the right to hold approximately 40% of the economic value of the Portuguese airline in the title conversion time and after approval of the National Civil Aviation Authority of Portugal.
This investment stems from the $ 450 million of HNA Group announced the end of 2015 agreement, when the Chinese conglomerate agreed to become the youngest shareholder of Blue with 23.7% of the economic value of the company. The investment in the Portuguese was a requirement of the agreement between Blue and the HNA Group.
The Blue believes that this investment strengthens the common interests between the company, TAP and the HNA Group and open space to explore further trade agreements, joint negotiations, partnerships for fleet optimization and global job opportunities and career for his crew. Currently the Blue already performs the transfer of 20 aircraft operating in the Blue fleet and will fly to Europe via TAP.
