United Airlines to invest $100M in Azul, bid $30.2M for O’Hare gates
United Airlines secured CADE approval for a $100M investment in Azul, scheduled to close February 20, 2026, as part of Azul’s Chapter 11 restructuring. Additionally, UAL submitted the winning $30.2M bid to acquire two O’Hare gates (G12 and G14) from Spirit Aviation, pending court approval.
1. CADE Approves $100 Million Investment in Azul
On February 11, Brazil’s competition authority unanimously approved United Airlines’ $100 million subscription of Azul shares and ADSs as part of Azul’s Chapter 11 restructuring plan, with the transaction set to settle on February 20, 2026 under ongoing regulatory reporting requirements.
2. United Secures Bid for Two O’Hare Gates
United submitted the winning $30.2 million offer to acquire gates G12 and G14 at Chicago O’Hare from Spirit Aviation, a sale designed to provide Spirit with capital as it navigates bankruptcy while expanding United’s access at a major hub.
3. Geopolitical and Shutdown Pressures on United
CEO Scott Kirby cautioned that global tensions and the previous government shutdown’s $250 million pretax hit underscore potential short-term disruptions, even as United focuses on long-term growth across six continents.