50 SKY SHADES - World aviation news

Azul Signs Non-Binding Agreement to Acquire Selected Assets of Avianca Brasil

Download: Printable PDF Date: 11 Mar 2019 06:39 categories:
Publisher:
Azul Signs Non-Binding Agreement to Acquire Selected Assets of Avianca Brasil - Finance publisher
Tatjana Obrazcova
Country: Brazil Aircraft: Airplanes

Azul announces today that it has signed a non-binding agreement with Avianca Brasil to acquire certain assets of Avianca Brasil for the indicative purchase price of up to US$ 105 million. As provided by the Brazilian Bankruptcy and Judicial Reorganization Law, the assets will be transferred to a new entity free and clear of all debts and liabilities ("NewCo"). The proposed NewCo solely includes certain assets selected by Azul including Avianca Brasil's operating certificate, 70 pair of slots and approximately 30 Airbus A320 aircraft.

The offer is non-binding and remains subject to a number of conditions precedent, including due diligence, regulatory and creditors approvals, and the conclusion of Avianca Brazil's judicial reorganization. Azul estimates that the process could take up to three months to be concluded.

Azul will keep the market informed of any relevant developments.

Azul is the largest airline in Brazil by number of cities served, offers 821 daily flights to 110 destinations. With an operating fleet of 123 aircraft and more than 11,000 crewmembers, the Company has a network of 220 non-stop routes as of December 31, 2018. In 2018, Azul was awarded best airline in Latin America by TripAdvisor Travelers' Choice and by Kayak's Flight Hacker Guide, and also best regional carrier in South America for the eighth consecutive time by Skytrax. Azul also ranked as most on-time airline in Brazil in 2018 according to FlightStats.

 



Loading comments for Azul Signs Non-Binding Agreement to Acquire Selected Assets of Avianca Brasil...


Recommended

New African Airline For Seabury Alkym Solution

Seabury Solutions announced the addition of a new airline customer in Africa, Precision Air, for its market-leading solution to enhance the maintenance management of the carrier’s expanding...

New milestone for Emirates Flight Training Academy - Flying solo

The big day had finally arrived, and Mohamed Al Dosari spent the morning in eager anticipation of the moment he would make history. As soon as he strapped himself into the Cirrus, his trained mind too...

Russian Helicopters to start additive manufacturing of parts in 2020

  In 2019, Russian Helicopters Holding Company is planning to re-engineer approximately 30 different helicopter parts to be manufactured using 3D printing technology and integrate them to seri...

Happy centenary to GKN Fokker!

On 21 July, GKN Fokker marks its centenary. Exactly 100 years ago, aviation pioneer Anthony Fokker registered the ‘’Nederlandsche Vliegtuigenfabriek’’ which led to the formatio...