22-Mar-2016 5:03 AM

Azul invests USD100m in TAP Portugal

Azul announced (21-Mar-2016) an investment of approximately USD100 million in convertible securities of TAP Portugal preferential stock, giving Azul the right to hold almost 40% of TAP's stock once approved by Portugal ANAC. This investment follows HNA Group's USD450 million investment in Azul at the end of FY2015, when HNA took 23.7% of Azul's stock. Azul's investment in TAP was a requisite to the Azul-HNA Group agreement. [more - original PR - Portuguese]

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