American Airlines subscribes for 31.8m common shares in Azul
Azul announced (20-Oct-2026) American Airlines exercised all warrants to subscribe for 31.8 million common shares in Azul, an 8% stake, for an aggregate exercise price of USD100 million. As required by the warrant agreement, Azul CEO John Peter Rodgerson resigned from the LCC's board on 20-Oct-2026 and was replaced by American Airlines head of partnerships Jeffrey Alan Ogar. [more - original PR]
Background ✨
Brazil's CADE approved American Airlines' USD100 million investment in Azul for an approximately 8% minority stake, under a merger control agreement designed to make safeguards more robust and enforceable.1 Abra Group later appealed CADE's approval.2 Azul president Abhi Shah said United Airlines and American would each hold about 8% and have governance rights, including seats on a strategy committee, and that Azul expected to pursue commercial agreements with American following antitrust immunity approval.3 4