Azul has just released a statement to the market on the termination of its codeshare with LATAM, and a possible consolidation movement in the sector.
The company believes that a consolidation movement is an industry trend in the post-pandemic and Azul is in a strong position to lead a process in this regard. The company says it has hired consultants and is actively studying industry consolidation opportunities.
“The codeshare with LATAM was an alternative in our response to the pandemic. We also realized that industry consolidation would be important for the post-pandemic recovery and Azul is a fundamental part of initiatives of this type. At the end of the first quarter of this year, we hired financial advisors and are actively studying consolidation opportunities. We believe that the termination of codeshare by LATAM is a reaction to the consolidation process”, says John Rodgerson, CEO of Blue.
“Azul is emerging from this crisis in a leading position in of liquidity, network recovery and competitive advantages. Our plans have not changed and I am confident that we are in the best position to pursue strategic alternatives at this time.”, says Rodgerson.
The company says it will keep the market updated on any news.
John Rodgerson's message raises several questions for the aviation sector in Brazil. The CEO said that the company is ready to buy an airline, and may have even previously made a tentative move to buy LATAM Brasil, which has not yet been publicly disclosed.
