HNA To Invest $450m Into Azul

Chinese investment firm HNA has confirmed it will acquire a 23.7 per cent stake in Azul Brazilian Airlines to the tune of $450m.

Chinese investment firm HNA has confirmed it will acquire a 23.7 per cent stake in Azul Brazilian Airlines to the tune of $450m.

As part of HNA’s strategy to acquire more aviation assets which has already seen it buy Swissport, the investment will result in “commercial agreements, joint negotiation efforts, and adjustments in aircraft allocation” which it said will enable Azul’s entry into Asia.

HNA joins United Airlines as an investor in Azul after the carrier acquired a five per cent stake in Azul for $100m.

David Neeleman, CEO of Azul, said: “The investment of $450m, considering Brazil’s current macroeconomic situation, demonstrates that we have a winning business model and that the HNA Group, as a large investor, has absolute confidence in Azul’s team.”

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