Brazil antitrust body approves American Airlines' 8% stake in Azul under behavioral remedies

Cade unanimously approved American Airlines' investment in Azul under a merger control agreement, resolving a challenge by Abra Group (Gol/Avianca). The deal gives American an 8% stake with residual, behavioral risks addressed. This removes regulatory overhang and supports Azul's equity, though competitive constraints on pricing/margins remain.