Azul to Upend Brazil Airlines With IPO and $6.5 Billion of Jets
This article is for subscribers only.
Azul SA, Brazil’s third-largest airline, may become No. 1 as it moves away from its regional origins with a $6.5 billion order for bigger planes funded in part with proceeds from an initial share sale.
With leases and purchases for 63 Airbus Group NV A320neo jets, Azul is poised to operate its largest planes ever on domestic routes. Including its fleet of ATR turboprops, Embraer SA regional jets and Airbus wide-bodies, Azul could offer about 3,000 more seats than the country’s dominant airlines, Gol Linhas Aereas Inteligentes SA and Latam Airlines Group SA’s Tam unit, based on the carriers’ current fleets.