Aviation
Commercial /
Americas
Monopoly?
Latam Airlines comments attempted purchase by Azul
Airbus A350
Latam Brasil
Adam Moreira, CC BY-SA 4.0, via Wikimedia Commons
Rafael Ramos
11/29/2021
On the morning of the 27th, the president of LATAM Airlines, Roberto Alvo, spoke about the proposal that Azul presented directly for the purchase of LATAM. The proposal was evaluated by shareholders, creditors and the company itself, but was considered insufficient and incomplete by LATAM standards.
"We discarded Azul's ideas. It was not possible to act on this proposal. Its content is confidential," stated Roberto Alvo, at a press conference.
The judicial recovery plan presented by LATAM will be evaluated by the US courts. After that, it will have a deadline to be analyzed by the creditors. However, LATAM claims that 71% of its creditors are in favor of the plan.
Therefore, Azul's proposal for LATAM can only become a reality if LATAM's creditors do not approve the plan, something difficult to happen, since the company needs the support of 66% of creditors.
Airbus A320neo
Rafael Luiz Canossa, CC BY-SA 2.0, via Wikimedia Commons
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Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
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