05/03/2024 – 21:52
The airline Azul denied that it is negotiating or carrying out any specific transaction regarding a possible offer from competitor Gol, which is undergoing judicial recovery in the United States.
“Azul, aware of its fiduciary responsibility, is always attentive to the strategic dynamics of the airline sector and possible partnership opportunities, and as a regular practice may hire consultants to support the company in these efforts. To date, Azul has not negotiated or approved any specific transaction. Azul is committed to keeping shareholders and the market in general informed about any significant developments related to this matter,” the company told the Securities and Exchange Commission (CVM).
Earlier, news was highlighted in newspapers that Azul had hired financial advisors from Citigroup and Guggenheim Partners to try to buy at least part of Gol. The two banks would help Azul decide whether to purchase a portion or even the entirety of the competitor.
As Gol is under Chapter 11 protection, the United States equivalent to Brazil's judicial recovery, any proposal from Azul would need to be approved by Gol's creditors.
Rumors in the market about the transaction boosted Azul's shares. Shares rose 7% at the opening of the session and closed at 3.87%
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