Brazilian airline Azul SA (AZUL.N) is not currently engaged in negotiations for a possible acquisition offer for struggling Avianca Brasil, Azul Chief Executive John Rodgerson told Reuters on Friday.
But he acknowledged there could be space for a possible deal with Brazil’s fourth largest airline, which filed for bankruptcy protection this week.
“Their bankruptcy protection case is very recent. It is possible that, in the future, we take a look at it, but right now there is nothing,” he said, nothing he will watch the “natural course” of the case.
His remarks followed a report in financial newspaper Valor Econômico that said the company was considering making an offer to buy Avianca Brasil
Quoting Azul’s chairman David Neeleman, the paper said Azul was evaluating that possibility for the “short-term” and that, if it goes ahead, the acquisition would be paid for using Azul’s available cash.
Rodgerson said the company is obliged to evaluate all market opportunities, but that there was “nothing happening” at the moment regarding a possible offer for Avianca.
Source: Reuters.com