The Southern District of New York has approved Colombian airliner Avianca's reorganization plan, Avianca said on Tuesday, which will allow the company to complete its chapter 11 bankruptcy process before the end of the year, Reuters reported. Avianca, along with rival Chile's LATAM Airlines, were the two largest carriers in the region before the coronavirus pandemic, but both were sent into bankruptcy restructuring when the virus upended air travel, amid especially strict restrictions in Latin America.
Azul’s chief executive doubled down on comments he made last week about a potential acquisition of LATAM Airlines Group, pending the outcome of the Chilean airline’s bankruptcy protection process, Flight Global reported. “The macroeconomic situation promotes consolidation in this space,” Azul’s John Rodgerson said during the Sao Paulo-based company’s third-quarter earnings call on 11 November.
Brazilian airline Azul SA is interested in buying the whole of Chile's bankrupt LATAM Airlines Group and is ready to make an offer if creditors fail to agree on a restructuring plan, Azul chief executive John Rodgerson told Chilean newspaper Diario Financiero on Monday, Reuters reported. "We know exactly what we will offer," Rodgerson said in the interview, adding that Azul would likely have to wait until Nov. 23 when a statutory limit on reaching a restructuring plan runs out. "We would buy the whole asset.