Brazil's antitrust authority, the Administrative Council for Economic Defense (CADE) has approved United Airline's $100 million investment in Azul Linhas Aereas — a key step in the latter's Chapter 11 restructuring process.
United will be allowed to increase its economic interest in Azul from 2.02% to around 8% through this investment.
Azul entered Chapter 11 in late May 2025.
The investment will be executed through Azul's primary public offering of newly issued common shares in Brazil in the unorganised over-the-counter market, combined with a private placement of shares abroad.
Azul had announced plans for the investment at the start of February.
The airline said councillors had unanimously voted in favour of the investment.