Two days after reporting the cancellation of the codeshare agreement with LATAM Brazil and announcing that it was looking for “consolidation opportunities” in the market, sources indicate that Azul Linhas Aéreas is considering making an offer to LATAM Airlines for the Brazilian subsidiary.
According to what was reported by Reuters, Azul’s shares rose more than 9% in Sao Paulo on the news, and Valor Economico newspaper reported that Azul was in talks with LATAM Brazil’s aircraft lessors.
LATAM filed for Chapter 11 bankruptcy protection a year ago and, while the process allowed it to secure sources of funding, it has yet to submit a formal restructuring plan.
A LATAM spokeswoman said that the airline had not received an offer from Azul, that there were no ongoing conversations, and that LATAM had no intention of selling any of its parts.
Azul, LATAM Brasil and GOL share the Brazilian domestic market, one of the largest in the region in terms of transported passengers and extension.
