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Azul looking to buy bankrupt LATAM Airlines’ Brazil operation, source says

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 . . .

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