Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) CEO David Neeleman has confirmed plans to scrap a proposed Initial Public Offering this year. The Brazilian domestic operator had sought to raise over USD100million via an IPO in May last year only to abandon it due to adverse market conditions.
Funds raised from the offering would likely go towards supporting the airline's expansion plans which, with effect from December this year, should see it operating its first widebody aircraft - A330-200s - on its first longhaul, international flights - to Fort Lauderdale International and Orlando International in the United States.
