Brazil’s Azul says LATAM gave no chance to its US$13 billion offer

Azul has been expressing interest in a partnership with LATAM, but the company in receivership has refused to seriously engage in negotiations.

RIO DE JANEIRO, BRAZIL - LATAM has "flatly rejected" Azul's (AZUL4) offer to buy the carrier, which is undergoing judicial reorganization, although the sale would be a better deal for creditors, Azul argues in new court filings.

Azul has for months expressed interest in a partnership with Chile's LATAM, but the airline in receivership has refused to seriously engage in negotiations, Azul's lawyers said in court filings. Azul said its deal outlined in a November 11 document values LATAM at US$13 billion and would provide more to creditors than the current proposal, which is about to seek . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?