Azul Acquires Brazilian Regional Carrier TwoFlex For R$123 Million
Azul Linhas Aéreas Brasileiras (Azul) announced Tuesday that they have signed an agreement to acquire Brazilian regional carrier Two Taxi Aereo (TwoFlex) for R$123M. TwoFlex offers passenger and cargo service to 39 destinations in Brazil.
On Tuesday, Azul Linhas Aéreas Brasileiras (Azul) announced they have reached an agreement to acquire Brazilian regional carrier Two Taxi Aereo (TwoFlex) for R$123M. TwoFlex serves 39 destinations in Brazil with both scheduled passenger and cargo service. Only three of the TwoFlex destinations are currently served by Azul, so there is very little route overlap and redundancy. The regional carrier has 14 daily departure slots at São Paulo’s downtown Congonhas airport. TwoFlex operates a fleet of 17 Cessna Caravan turboprops which can accommodate nine passengers. In Tuesday’s announcement, Azul’s CEO, John Rodgerson said,
“Over the past ten years Azul has led the development of regional aviation in Brazil by serving more than 100 domestic destinations and bringing new service to more than 50. Our goal is to continue bringing critical air service to new and diverse parts of Brazil, and TwoFlex will be the perfect way to reach these cities and communities. This acquisition will help Azul in giving these customers access to the largest domestic network in Latin America and further grow the Brazilian aviation market. Two Flex’s cargo operation will also be a strategic addition to AzulCargo as we look to continuously invest in this logistics platform.”
Azul is Brazil’s largest airline with 916 daily departures to 116 destinations. The carrier operates a fleet of 140 aircraft, employs more than 12,000 team members and has a network of 249 nonstop routes.