Azul, a Brazilian airline company, has proposed to acquire part of peer Avianca Brasil’s operations for $105 million.
The purchased proposal will include assets selected by Azul such as Avianca Brasil air operator certificate, 70 pairs of slots and around 30 Airbus A320 aircraft.
With the deal, Azul will increase the slots it holds in São Paulo’s domestic Congonhas Airport from 13 to 34.
The purchase process, subject to conditions such as the finalization of a due diligence process, the approval of regulatory bodies and creditors and the completion of the Judicial Recovery process, is expected to last up to three months.