TAP and Azul studying joint venture

TAP Portugal and Brazil's Azul are working on a joint venture so the two airlines can collaborate on pricing of transatlantic flights between Europe and Brazil. "We want to get to full co-operation," TAP chief commercial officer Trey Urbahn said. Urbahn says a joint venture will allow the two airlines to co-operate on pricing and capacity. The two carriers already have a codeshare and want to collaborate further on joint procurement of aircraft and fuel. A joint venture will further seal the relationship between TAP and Azul, who share common ownership links through Azul founder David Neeleman. Neeleman is a shareholder of Atlantic Gateway, which owns a 45% stake in TAP's holding company. Since Atlantic Gateway bought into TAP in late-2015, the airline has embarked on a fleet renewal process and is transforming its European operations into a low-cost operation. Azul's former president Antonoaldo Neves also recently moved to TAP, where he is now a member of the board. Urbahn says Neves will likely succeed TAP's CE Fernando Pinto.<br/>