U.S.-based SkyWest Airlines will buy a 20 percent stake in Brazilian regional carrier Trip, seeking a foothold in the South American nation's rapidly expanding passenger air travel market, the two companies said Thursday.
SkyWest Inc., based in Utah, will pay US$30 million over a two-year period to obtain the stake. Trip describes the deal as the last step in an effort to raise US$150 million that will be pumped into its operations.
"These investments will allow us accelerate the expansion of our fleet and grow," said Renan Chieppe, chairman of Trip's board of directors.
Trip Linhas Aereas SA is dwarfed in Brazil by market leaders Tam …
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