Azul abandons JV with Correios

Azul abandons JV with Correios

M&A Corporate & Sovereign Strategy Brazil

Brazil's Azul said it has pulled out of a planned joint venture with the postal service Correios after its own cargo service grew a record 57% in 2018. "The company believes it is in its best interest to have the flexibility to enter other more favorable commercial agreements and to participate in future competitive bidding processes of Correios for the distribution of domestic air mail," Azul said in a statement. Azul's cargo customers include the e-commerce company Mercado Libre, the drugsto

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