Azul Linhas Aéreas Brasileiras (AD, Sao Paulo Viracopos) has announced that it will acquire a 100% stake in Brazilian air taxi operator TwoFlex Táxi Aéreo Inteligente (2F, Jundiaí) for BRL123 million real (USD29.8 million).

"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. TwoFlex’s cargo operation will also be a strategic addition to AzulCargo as we look to continuously invest in this logistics platform”, Azul Chief Executive John Rodgerson said.

TwoFlex operates seventeen Cessna (single turboprop) 208B Grand Caravans on both scheduled and charter services. It flies scheduled routes to 39 destinations in Brazil, mostly third-tier cities with little or no other traffic. Only three of these cities are currently served by Azul itself. The airline also holds 14 daily departure and arrival slots at extremely congested Sao Paulo Congonhas airport.

Since March 2018, TwoFlex has been partnering with Azul's rival GOL Linhas Aéreas Inteligentes (G3, Sao Paulo Congonhas), providing regional feeder services to various hubs around the country, including Belém and Manaus in the north, Cuiabá in the centre, Curitiba Int'l and Porto Alegre in the south, and Congonhas. Out of the Sao Paulo gateway, it serves, among others, Rio de Janeiro Jacarepaguá as the only carrier flying to this general aviation airport in Rio.

"We have built a great feeder business over the past few years connecting smaller cities to large capitals throughout the country. I look forward to connecting our regional network to Azul's domestic and international network," said TwoFlex Chief Executive Rui Aquino.

While its entire passenger network is currently operated under Gol's code, TwoFlex also flies its own cargo services between Jundiaí and Belo Horizonte Pampulha.

The transaction remains subject to conditions such as due diligence, the negotiation of a purchase agreement, and regulatory approvals.