Azul Targets Offer for Entire Latam Airlines, Says Founder

(disclosure / blue)

Sao Paulo – Brazilian airline Azul (blue 4) is interested in buying the entire Chilean LATAM airline group, and is ready to make an offer if creditors cannot agree on the restructuring plan, Azul founder and president David Neelman told Chilean daily Diario Financiero on Monday.

“We know exactly what we are going to deliver,” Neilman said in the interview, adding that Azul will likely wait until November 23, when the legal limit to reach the restructuring plan will run out.

Reuters previously reported that Azul was only interested in buying Latam’s Brazilian operations, but in an interview with Diario Financiero, Neilman said the plan is to buy and keep the entire company.

“We will buy the entire asset. I declare the group a great value and we are not considering splitting or selling divisions.

Neilman said that if Latam can reach a restructuring, Azul will not be able to make its bid, but it appears that such an agreement will not be reached.

When asked, Latam reported via email that the company was “not for sale” and declined to comment on Azul’s intentions. The company also said it is preparing to hand over its restructuring plan this year.

Learn how to turn the stock exchange into a recurring source of profits. Watch Professor Sue’s free class and find out how.