Azul and TAP Sign Commercial Joint Venture Agreement
February 6, 2020 , São Paulo – Azul S.A., “Azul”, (B3: AZUL4, NYSE: AZUL), announces today the signing of a commercial non-corporate joint venture (“JV”) agreement with Transportes Aéreos Portugueses S.A. (“TAP”).
“We are delighted to further strengthen our partnership with TAP. Through this JV, we will offer expanded flight schedules, competitive fares and increased access to European and Brazilian destinations to our customers”, said Abhi Shah, Azul’s Chief Revenue Officer.
The commercial JV between Azul and TAP will bring more connectivity to Brazilian domestic network and access to the European market, giving a more streamlined travel experience to customers flying between Brazil and Europe. It also will allow both companies to extend frequent flyer programs, increasing the competitiveness and expanding their market presence.
The transaction was approved by Azul shareholders on December 9th, 2019 and will now be submitted to regulatory approvals. Azul will keep the market informed of any relevant developments.
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