Introduction
In December 2018, I wrote a SA article covering Aircastle’s (NYSE:AYR) struggle to repossess 10 A320s from bankrupt Brazilian airline Avianca Brasil ([[AVH]]). Since then, there have been a few significant developments that are very positive for Aircastle’s business.
Azul makes a bid for Avianca
On March 11, Brazilian airline Azul (NYSE:AZUL) announced that it has signed a non-binding agreement with Avianca Brasil under which it will acquire the majority of its business for $105 million. The deal includes Avianca Brasil’s operating certificate, 70 pair of slots