Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) shareholders have approved the sublease of up to twenty-eight E195s to Breeze Airways (MX, Salt Lake City), a US start-up backed by the Brazilian carrier's founder and chairman David Neeleman.
Azul said in a press release that 97% of its shareholders voted in approval of the transaction. David Neeleman, who owns a 5.8% stake in the airline, abstained from the vote in accordance with related-party transaction policy.
The final scope of the transaction is contingent on LOT Polish Airlines (LO, Warsaw Chopin), which has a Letter of Intent with Azul for the sublease of eighteen E195s with a further 14 options. If it exercises all options, Breeze Airways will only be able to take 21 of the Embraer regional jets.
Azul plans to completely retire its E195s by 2022, replacing them with E195-E2s.
