RIO DE JANEIRO, BRAZIL - (REUTERS) Brazilian airline Azul SA has approached Chile’s bankrupt LATAM Airlines Group with the aim of buying its Brazilian operation, a source familiar with the situation told Reuters. Azul’s shares rose more than 5% in Sao Paulo on the news.
LATAM filed for bankruptcy protection a year ago and, while it has secured new liquidity in that process, it has yet to present a formal restructuring plan.
Azul, controlled by JetBlue Airways Corp founder David Neeleman, said in a securities filing on Monday that it was ready to lead a wave of consolidation in . . .