UPDATE 1-Airlines Gol, LATAM bid for some Avianca Brasil assets [Reuters]
LATAM AIRLINES GROUP SA (LTM)
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Source: Reuters
UPDATE 1-Airlines Gol, LATAM bid for some Avianca Brasil assets | Reuters 2 Min Read (Adds details, context) By Marcelo Rochabrun SAO PAULO, April 3 (Reuters) - Chile’s LATAM Airlines and Brazil’s Gol Linhas Aereas Inteligentes said on Wednesday they each bid at least $70 million for some of the assets of struggling rival Avianca Brasil, which is in bankruptcy court. The announcement adds new players to the bidding for some of the most-coveted airport slots in Brazil, but raises questions about a previous $105 million bid made by airline Azul SA. LATAM and Gol said they were submitting bids at the request of Avianca Brasil’s largest creditor, hedge fund Elliott Management. A person involved in the bankruptcy proceedings said last week disagreements had emerged between Azul and creditors that threatened to derail the offer. Azul declined to comment on the status of its potential bid. Avianca Brasil, the country’s fourth-largest airline, filed for bankruptcy in December after falling be
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