Good morning! Today, a major takeover could happen in Brazil’s air travel industry. Lula’s recent approval numbers. And Brazil’s football betting problem.
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There can be only two?
Back in 2021, we at The Brazilian Report quoted an airline executive who said that even though the domestic aviation market was already over-concentrated with only three major players, more consolidation was coming.
- This executive believed that either Latam or Gol, the two largest companies, would acquire Azul, the country’s third-biggest airline. The executive was right about the consolidation trend, but as it turns out, Azul is the one ready to acquire a competitor.
State of play. Azul has reportedly hired financial advisory teams to explore a takeover of Gol. The move comes less than two months after Gol filed for Chapter 11 bankruptcy protection in a U.S. business court.
What they are saying. Azul has denied the reports. In a securities filing, Azul said it is “always attentive to the strategic dynamics of the airline sector and possible partnership opportunities, and may, as...