Brazilian Airlines to Merge

Azul Linhas Aereas Brasileiras and TRIP Linhas Aereas have reached an agreement to merge operations, they say. A new holding company, to be called Azul TRIP, is to be two-thirds owned by Azul, with neither company putting fresh funds in to the deal. The combined entity would be the third-largest Brazilian carrier, with about 14% of the market, according to remarks made by TRIP chairman Renan Chieppe cited in local press and wire reports. The company will consider dropping one of the brands, according to reports. TRIP declines to disclose its advisor on the deal, and Azul does not return a request for comment.