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United buys stake in Brazilian airline

United buys stake in Brazilian airline

United Airlines on Friday said it bought a 5 percent stake in Brazil's third-largest airline for $100 million as a "strategic investment." The stake in Azul Brazilian Airlines gives United another foothold in South America, paving the way for the carriers to cooperate on sharing flights, adding connections on routes between the U.S. and Brazil, and expanding their customer loyalty programs, the airlines said. United's stake includes one seat on Azul's board. "Brazil is an important market in United's global route network, and this partnership with Azul further strengthens our ties to the region," said Jim Compton, United's chief revenue...