Azul offers to buy Avianca Brasil assets

Azul offers to buy Avianca Brasil assets

M&A Debt Corporate & Sovereign Strategy Regulation Brazil

Brazil's Azul has offered to buy $105m in assets from Avianca Brasil, as a local court ruled that the bankrupt carrier can keep its planes despite missed payments. The non-binding offer involves 30 Airbus A320 aircraft, 70 pairs of airport runway slots and Avianca Brasil's operating certificate, Azul said in a statement. Azul added that it could take three months to reach an agreement. According to Brazil's bankruptcy laws, Avianca Brasil will transfer the assets to a new entity that is "free an

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