Following its initial public offering (IPO) in April this year, Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) has now executed a new shareholder's agreement among majority holders David Gary Neeleman, Trip Participações S.A., Trip Investimentos Ltda., Rio Novo Locações Ltda., CALFINCO, Inc. and Hainan Airlines Co., Ltd.
Launched in 2008 by JetBlue Airways (B6, New York JFK) founder David Neeleman, Azul had made repeated attempts to go public since 2013. It finally succeeded earlier this year, raising BRL2.021 billion (USD543 million) in a dual offering on the Sao Paulo and New York exchanges.
Under the terms of the new agreement, the preferred shareholders have certain rights over the appointment of Directors to the Board, dependent on their holding, and rights of first offer in the transfer of shares.
