RIO DE JANEIRO, BRAZIL - The euphoria of investors with a potential attempt by Azul to buy LATAM's Brazil operation, which is under a Chapter 11 bankruptcy reorganization plan, is not backed by analysts specialized in the large financial institution's sector.
There is skepticism about both the business's chances of success and Azul's financial capacity to live up to this combination. The main factor undermining the experts' confidence is the debt of the company founded by David Neeleman, with its extra R$15 (US$2.8) billion, which is "off" the balance sheet.
"The company has not . . .