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AYR - Azul Can Still Get Some Of Avianca Brasil's Best Assets
Aircastle Limited
Introduction
In March, I wrote a SA article in which I mentioned the plans of Azul (NYSE:AZUL) to buy the majority of assets of its bankrupt local rival Avianca Brasil for $105 million. Under a non-binding agreement, Azul was supposed to get the company's operating certificate, 70 pair of slots, and around 30 Airbus A320s.
Azul CEO John Rodgerson said that the company had already held discussions with some of Avianca Brasil's lessors to take over the planes at cheaper rates.
Azul wasn't expected to have any competition for the assets. The