RIO DE JANEIRO, BRAZIL - Santiago-based LATAM is focused on exiting the receivership proceeding opened in the United States over a year ago, not a piecemeal sale of the business.
CEO Roberto Alvo, who is seeking to avert an offer by rival Azul, said the airline's Brazilian operation is not for sale. Last week, the carrier denied reports that Azul plans to buy LATAM's Brazilian subsidiary.
Although Alvo was emphatic that he is "absolutely not" selling the Brazilian unit to Azul, the rival is awaiting LATAM's receivership exit plan and could make an offer directly to the . . .