American Airlines completes investment in Azul

American Airlines has finalized its investment in the Brazilian airline Azul after exercising all of its subscription bonuses. The transaction, approved by Azul’s board of directors, resulted in a capital increase of R$ 512.8 million.

As part of the operation, approximately 32.27 million ordinary shares were issued, with 31.84 million allocated to American Airlines. The company intends to deposit these shares into Azul’s American Depositary Receipt (ADR) program traded in the United States.

The investment has also led to changes in Azul’s corporate governance. John Rodgerson has resigned from his positions on the board of directors and the strategic committee. He will remain as the company’s CEO. Jeff Ogar, an American Airlines executive responsible for airline partnerships, has assumed Rodgerson’s former board and committee roles.