Brazil's Administrative Council for Economic Defense (CADE) has cleared the American Airlines Azul stake, approving a US$100 million equity investment for a minority holding of about 8% in the Brazilian carrier. The decision was final if no appeal or avocates within 15 days after its publication in Brazil’s Official Gazette (DOU). The investment was part of Azul’�s Chapter 11 restructuring process and was cleared without restrictions on February 11, 2026. The two largest U.S. carriers each individually invested US$200 million in Azul, creating a unique ownership structure where each American Airlines and United Airlines each hold roughly 8% of the airline. The new codeshare agreement allows passengers to book single-ticket itineraries combining American Airlines’ U.K. network with Azul's extensive domestic Brazilian routes, improving connectivity to smaller cities across Brazil.