Brazil
Key Facts
—The Ruling CADE’s technical staff issued a favorable, unconditional opinion on July 31, 2026, finding no competitive harm in air passenger or cargo markets between Brazil and the United States.
—The Investment American Airlines committed US$100 million for a minority stake of about 8% in Azul, structured within Azul’s Chapter 11 restructuring process.
—Parallel Investment United Airlines also committed US$100 million for an approximately 8% stake in Azul, which CADE cleared without restrictions on February 11, 2026.
