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Azul 'will not buy TAP': founder

12-Jun-2013 3:31 PM

Azul and JetBlue Airways founder David Neeleman confirmed the carrier "will not buy TAP", and instead plans to focus on its IPO expected in late 2013 (Dow Jones Newsswire, 11-Jun-2013). Mr Neeleman said, "We have talked to the [Brazilian] Government... We said we could help TAP with connections, for example". As previously reported by CAPA, the carrier was speculated to be a buyer for the state-owned carrier, with possibile financial assistance from the Brazilian Development Bank (BNDES). Synergy Group owner and Avianca's largest shareholder German Efromovich remains as the sole potential bidder to have confirmed interest so far.