March 12, 2019 |
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
Brazilian airline could spend $105m for 30 airplanes, 70 pairs of slots and an operating certificate