Brazilian airline Azul SA has registered to participate in a bankruptcy auction ...
SAO PAULO - Brazilian airline Azul SA has registered to participate in a bankruptcy auction for the assets of struggling carrier Avianca Brasil scheduled for next week, potentially walking back a previous decision not to participate.
The airline confirmed through a representative that they had registered, although he said no decision had been made whether to actually place a bid. The bankruptcy auction is set for Tuesday. An initial plan would have had Azul take over the majority of Avianca Brasil’s airport slots in Sao Paulo and Rio de Janeiro. But a few weeks later, its bigger competitors, LATAM Airlines Group and Gol Linhas Aereas Inteligentes struck a deal with Avianca Brasil’s largest creditor, U.S. hedge fund Elliott Management, to create a new plan that would divide up some of those slots among themselves instead.
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