Azul launches $145 million bid for Avianca Brazil assets

Brazilian airline Azul is looking to pickup the assets from bankrupt Avianca Brazil. Azul has filed a petition with a bid for the acquisition of a new isolated productive unit (UPI) for a minimum bid price of US$145 million. The new UPI consists of certain slot pairs of Avianca Brazil, including flights for the shuttle service between São Paulo and Rio de Janeiro. In a statement, Azul said: “The company believes that the sale of this single new UPI will provide Avianca Brazil’s employees, customers, creditors, and other interested parties, a legal and legitimate alternative to maintain its business as