On the Record · Azul
Azul acquisitions, on the record
The businesses Azul bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
TwoFlex (rebranded Azul Conecta)Word for word“On February 21, 2020, our wholly-owned subsidiary, ALAB, and TwoFlex (rebranded Azul Conecta), announced that they entered into a Quota Purchase Agreement under which we agreed to acquire the Brazilian regional carrier TwoFlex for the total purchase price of R$123 million.” 20-F for 2023 | agreed acquisition | February 21, 2020 | R$123 million |
Equity participation in TAPWord for word“On October 2, 2020 Azul successfully concluded the sale of its equity participation in TAP as part of the restructuring effort led by the Portuguese government, raising approximately R$70 million in cash.” 20-F for 2023 | divestiture | October 2, 2020 | approximately R$70 million |
TRIPWord for word“In August 2012, we acquired TRIP, which at the time was the largest regional carrier in South America by number of destinations.” 20-F for 2024 | acquisition | August 2012 | — |
TwoFlexWord for word“On February 21, 2020, our wholly-owned subsidiary, ALAB, and TwoFlex (rebranded Azul Conecta), announced that they entered into a Quota Purchase Agreement under which we agreed to acquire the Brazilian regional carrier TwoFlex for the total purchase price of R$123 million.” 20-F for 2024 | agreed acquisition | February 21, 2020 | R$123 million |
6.1% economic stake in TAP from Hainan Airlines (Hong Kong) Co. LimitedWord for word“On March 14, 2019, we further acquired a fully-diluted economic stake of approximately 6.1% in TAP from Hainan Airlines (Hong Kong) Co. Limited for a purchase price of US$25 million.” 20-F for 2025 | acquisition | March 14, 2019 | US$25 million |
Read from Azul’s annual reports (20-F for 2025, 20-F for 2024, 20-F for 2023) and the financial data it files with the SEC, as of 2026-04-03. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.