25-Jan-2010 2:59 PM
TPG acquires 10% stake in Azul; WestJet encouraged but remains cautious about traffic “buoyancy”
Analysis
Azul Linhas Aereas SA confirmed that US fund, Texas Pacific Group (TPG) had acquired a 10% stake in the LCC. According to reports in Valor Economico, TPG will pay approximately USD20 million for the stake, but will not inject additional funds into the carrier (the TPG investment was reportedly facilitated as Pequot Capital and Wexford Capital sold shares in the carrier. Pequot still remains a shareholder in the LCC).
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