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SKYWEST IS BUYING A STAKE IN BRAZIL’S TRIP LINHAS AEREAS

Written by thomas · Filed Under Commercial 

September 8, 2008

thomas

The US based regional airline is acquiring a 20% stake in Brazil’s largest domestic regional airline, Trip Linhas Aereas. The Utah based US carrier will pay $30 million over a two year period to acquire the 20% stake, the maximum allowed by current Brazilian law for a foreign airline’s ownership in Brazil. Trip’s chairman of the board, Renan Chieppe, stated the investment is part of $150 million in capital the airline is seeking to be pumped into the airline. He stated: “These investments will allow us to accelerate our expansion of our fleet and grow. The airline currently serves 64 destinations in the largest country in Latin America with a fleet of 12 ATR42-320s. four ATR72-210s, two ATR72,500s, one EMB120 and is adding five Embraer ERJ175s. Jerry Watkins, CEO of the US carrier, said the negotiations lasted 16 months, “We concluded there’s a positive convergence of vision and interests between our two companies and that the deal will promote a regional model in Brazil that we successfully developed in the American market”.

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