Azul details proposed JV with TAP

Azul detailed (25-Nov-2019) its JV proposal with TAP Air Portugal, as follows:

• Non-Corporate Joint Venture to provide benefits for customers, communities and marketplace for air travel between Brazil and Europe;
• Collaborative revenue sharing commercial agreement:
  • Integrated seamless service through better coordination of schedules between Brazil and Europe;
  • JV to drive traffic growth between both regions;
  • Expanded codeshare options, competitive fares and a more streamlined travel experience;
  • Revenue gains to be distributed according to pre-JV capacity deployed by each carrier;
• JV advantages:
  • Revenue accretive to both parties;
  • Allows both companies to align frequent flyer programmes and improve customer service;
  • More connectivity to Brazilian domestic network;
  • Increases competitiveness and expands market presence;
  • Increased access to the European market.

Azul stated that as its controlling shareholder also holds a significant investment in TAP Air Portugal, Azul will submit this transaction for shareholders' approval as determined in the bylaws. [more - original PR]