Azul Linhas Aereas Brasileiras founder David Neeleman announced Brazil needs to move with much more speed if the country’s airports are to be ready to host the 2014 World Cup (Bloomberg, 29-Mar-2011). Mr Neeleman stated the country can lure foreign capital to finance the modernisation of the airport if Infraero airport authority sells a bond globally. Brazil is reportedly remodelling airports, improving roads and expanding urban transit areas as part of President Dilma Rousseff’s pledge to invest USD576 billion over four years to bolster insfrastructure before hosting the World Cup. Mr Neeleman also announced Azul Linhas Aereas Brasileiras may take part in the airport improvements and plans on increasing its fleet size from 34 to 50 by the end of 2011. Mr Neeleman announced the carrier has no plans for an IPO however can see 150 million Brazilians travelling by air within the next five years.
Brazil needs faster airport improvements before World Cup
30-Mar-2011 11:49 AM