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 . . .