Azul Linhas Aereas Brasileiras SA founder and Chief Executive Officer David Neeleman, who canceled the carrier’s initial public offering last month, said he’s confident in the Brazilian economy and intends to do an IPO.
Azul Linhas Aereas Brasileiras SA, the airline created by JetBlue Airways Corp. founder David Neeleman, became the second company in Brazil to cancel an initial public offering this year amid a market slump.
Azul Linhas Aereas Brasileiras SA is getting the equivalent of four years’ worth of growth by acquiring Trip Linhas Aereas, said David Neeleman, Azul’s founder who will be the combined company’s biggest shareholder.
Brazil is the only so-called BRIC emerging economy where companies not owned by the government, such as Credit Suisse Group AG and Grupo BTG Pactual, still earn the most investment-banking fees. That may soon end.
Azul Linhas Aereas Brasileiras SA, the Brazilian airline created by JetBlue Airways Corp. founder David Neeleman, is postponing its IPO, less than a week after Votorantim Cimentos SA delayed its share sale, according to three people familiar with the situation.
Gol Linhas Aereas Inteligentes SA, Brazil’s largest airline, is losing the cost savings from flight and job cuts as the real tumbles, erasing a rally that the company triggered with its turnaround effort in the past year.
Azul Linhas Aereas Brasileiras SA, the Brazilian air carrier created by JetBlue Airways Corp. founder David Neeleman, filed with the country’s securities regulator to sell shares in an initial public offering.
Azul Linhas Aereas Brasileiras, Brazil’s third-biggest domestic carrier, said it plans to expand its fleet next year and bid for a stake in an airport, while bigger rivals Tam SA and Gol Linhas Aereas Inteligentes SA scale back their plans to increase capacity.