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AVH - Avianca Holdings SA News Story

$0.88 0.0  0.0%

Last Trade - 08/05/20

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £2.52bn
Position in Universe th / 6856

UPDATE 1-Azul no longer bidding for Avianca Brasil's routes -CEO

Thu 18th April, 2019 7:58pm
(Adds share performance)
    SAO PAULO, April 18 (Reuters) - John Rodgerson, chief
executive of Brazilian carrier Azul SA  AZUL.N , told a news
conference on Thursday that the airline is no longer bidding for
routes operated by Avianca Brasil, which filed for bankruptcy
protection in December. 
    In March, Azul unveiled a nonbinding agreement worth $105
million to buy certain assets of Avianca. 
    Since then, Azul's competitors LATAM Airlines Group SA
 LTM.SN  and Gol Linhas Aereas Inteligentes SA  GOLL4.SA  have
presented rival offers after both were approached by hedge fund
Elliott Management, Avianca Brasil’s largest creditor,
soliciting bids.
    Azul shares were up 5.6 percent in early afternoon trading
in New York and shares in rival Gol rose 8.8 percent in Sao
Paulo.

 (Reporting by Aluísio Alves 
Writing by Ana Mano
Editing by Jonathan Oatis and Meredith Mazzilli)
 ((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob:
+55-119-4470-4529; Reuters Messaging:
ana.mano.thomsonreuters.com@reuters.net))
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