Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) founder and chairman, David Neeleman, has denied having any plans to acquire struggling rival carrier Avianca Brasil (São Paulo Congonhas).
In an interview with Brazil's Valor Economico last week, Neeleman said Azul had considered the short-term possibility of acquiring Avianca Brasil adding that any potential acquisition would be done using internal resources.
However, in a follow-up clarification to the SEC, Azul said Neeleman had made a comment referencing the company's fiduciary duty to evaluate potential market opportunities.
"The company is currently not engaged in any negotiations to make a bid for Avianca Brasil," it added.
Avianca Brasil entered into bankruptcy protection on Friday, December 13, after a Sao Paolo court granted a previous application. The airline had said at the time that it had been forced to seek the measure after failing to reach an acceptable agreement with lessors over payments.
According to the terms of the edict, Avianca Brasil has 30 days to settle its debt repayment problems with lessors following which they will be able to repossess their aircraft.
Firms that are known to have sought seizure orders include Aviation Capital Group (eight A320-200s and one A319-100), BOC Aviation (two A320neo), and Aircastle (ten A320-200s and one A330-200).
As per the terms of the Cape Town Convention, a conciliation hearing between the parties has been set for January 14, 2019, in São Paulo.
